Ironclad Encryption Corp. (fka IRNC)

[totffe]

This company, while having a favorable share count, is teetering on bankruptcy according to their last 10Q. Liabilities are enormous, while assets are minimal. I realize this is pink land, sometimes with a low S/S we get a pump and run, but what is the source of the optimism on this board? Is there a new block buster product in the pipeline? How can they possibly get out from under this debt and service the notes? What am I missing? Thanks.