Something else to consider. They did a private placement in May that has all the characteristics of a toxic convertible. The holder is out of Liechtenstein which has always been a red flag for that kind of financing.
Here is a line from the registration statement:
Any significant downward pressure on the price of our common stock as the selling stockholders sell the shares of our common stock could encourage short sales by the selling stockholders or others. Any such short sales could place further downward pressure on the price of our common stock.
There could be games being played on this one, IMO.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.