Well, I like to keep things real, and it's hard to blame people for being frustrated and pessimistic. After all, the outcome when a security is revoked is rarely good. But I think there is also room for optimism. For example... They were able to raise some operating capital without much problem... Recent press releases suggest a company with a real plan... They wouldn't be paying auditors if they were not serious about reinstatement... And the CFO and CSO are generally responsive if you contact them directly.
None of those things, and a number of others, make any sense if the company isn't serious. I think it is more likely that they realized early in the year that their promises shortly after being revoked were unrealistic. They have been saying for months -- publicly and in private correspondence -- that the Form 10 would be filed "in and around" Q4. I don't know what that means specifically (they probably don't either), but I take it to mean that Q3 results will be out shortly, and they will provide more concrete info at that time. They almost have to, with Q4 now two thirds over.
So far this year, they have been doing more or less what they promised (after adjusting the promises from last year, at least). They need to deliver on the rest of it now. And we need more visibility and some reassuring statements from the new CEO, whose invisibility isn't helping. If they don't do these things, or if they come up with excuses to push the refiling to next year, then, yeah, at that point I think your sentiments begin to get legs.
AI
