Why would the stock go up to $4 a share?
With 19.7 million shares outstanding that impedes a market cap of just under $80 million.
You can not give a market cap to a company that has a bad balance sheet. This company will raise more capital which means more dilution. All past capital raises have been toxic which means the stock has no real value. The price on the open market is arbitrary because there is no true value in the company due to CEO's continuous toxic financings.
Lets not forget the warrants, preferred warrants, options, preferred shares and all the other BS stock deals that were done.
They have ZERO institutional ownership. DO NOT tell me Sabby is an investor with 435,000 shares. Sabby was one of the firms that participated in the last capital raise which meant they had over 8 million shares. They sold most of those shares into the open market and due to the quarter ended Sept 30 they still owned those shares and by law they had to disclose that ownership position.
And don't forget that the CEO only owns 445,492 shares.
On a percentage basis based on the last capital raise and on a fully diluted basis I believe his stock ownership percentage is about 3%.
So when you say that this stock will go up you really need to evaluate your stock decision making process.
it was just under 2 years ago that the stock was $230.00 a share. Today is it at $2.33.
And I expect it to go under $1 a share within the next 6-months, and then another reverse split, another capital raise meaning more dilution and lower stock price. It is a never ending carousel that just keeps going down.
Just my unprofessional opinion based on filings, website, press releases, past management calls and management past decisions and stock charts.
