My take on things for what its worth...
Obviously there is no way to know every detail of what is going on behind the scenes. It could be sensitive information for competitive reasons, or maybe deals that can't be disclosed until hurdles are met, or any number of normal business reasons...
But here is what I do know.
1. The CEO gave away over $10 million dollars of debt for shares at .05 each. Meaning, to ever recoup that money the shareprice would have to be significantly higher to sell those shares to another investor (private placement).
2. If the CEO had any concerns about the future of the company he would have left his debt as debt for a bunch of reasons. Sale of company, toxic dilution, you name it. But he didn't which tells me all I need to know.
3. The 8-k did not extend the rights offering to shareholders, it extended the companies right to resell any unused rights to investors at .05. In order to sell over $5,000,000 worth of rights at .05 to private investors, there would clearly have to be significant developments in the works.
I no longer post on this board because the long term shareholders that share my opinion I talk to through private message. A few bad apples spoils the bunch, so those few crybabies that post the most keep me from wanting to have any real discussion or share any DD.
Take it for whatever you want, but I have spoken to the company about all three points mentioned above and although they cannot give me any detail it is clear that is exactly what is going on in my opinion. They also said we will see a number of updates as they are able to share in the future.
I saw bids for 400k and 250k over .05 in the past few weeks, not to mention any investor who isn't terrible at trading could easily exit a position over the course of days and weeks by selling in small lots on the bid/ask so stop making excuses and make a decision to buy, sell, or hold. It's embarrassing to read all the whining and crying here.
Complaining about the lack of PRs and silence is completely reasonable, but the "poor me" routine about being "stuck" is childish at best, especially for investors up 50% that are mad they aren't up more.
