There was somewhat of a perfect storm. It was pumped pretty hard on the run to .15, so naturally folks assume a P&D. Then it started to pull back on technicals because it was oversold, and like a self-fulfilling prophecy, as soon as a pumped ticker goes red everyone who just bought the pump panics and sells, creating the "dump". Then at the worst possible time they missed the quarterly filing deadline and we went limited for a couple weeks. Then they started promising dates and missing them...a lot. Granted they did always eventually come through, but it's OTC and that doesn't matter apparently.
THEN to kick it while it was down, there was note conversion (I will never understand why noteholders convert at 52W lows) to the tune of 30-50M I believe, with no warning or real explanation from the company until well afterward, while we were all expecting the OS to go down, not up.
HOWEVER, all that being said...nothing has fundamentally changed except that the SS is now TINY, they have basically eliminated the ability of the holder to convert anymore...which is actually now irrelevant because they are going to buy out the note, oh and the audit looks to be almost complete, which will allow them to uplist to otcqb, and get out of "unsolicited quoting".
So A LOT has changed, but it's all extremely positive, yet still being overlooked for trash tickers running left and right.
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