Regardless of spin about moving to the pinks, it is not good news. Less financial disclosure at this time has a 90 percent plus probability of being negative. If there is no cash to buy inventory to resell, it all means nada. To expect the C preferreds to convert to common is little more than a pipe dream.
At some point the realization that the common has been completely wiped out will set in. Lack of financial disclosure is confirmation per se. To blame market makers for the debacle is denial at its highest form.
The bottom line is that regardless of how good the product is, it will take capital to buy the materials necessary to produce them, and rent, payroll, etc. Any sane group putting in capital at this point would come ahead of the debt, preferred C's and the common. It would come at a huge price and would likely overhang the market until Kingdom come.
So far, no material projection from management has ever come to pass. So to think that something is going to change now seems to be a very long shot at best.
Is a nickel per share better than a penny? I think so.
