There is still a slim chance that the new 5 person Salesforce will start showing some positive results.
There is plenty of time to buy-in on this stock, if things begin to turn-around. However Sales revenues are not the only negative issue to consider.
The other major concern is whether management is going to continue treating the cash account like it's their own personal checking account. When revenues last hit $50,000/mth, the officers voted in a huge salary increase for themselves. Common shareholders will be powerless to stop huge pay raises because the CEO, Arabia, has controlling voting power of 52.5%.
There are 2.5 billion shares authorized with approx. 700 million shares issued. Plans are to issue the remaining authorized shares in order to finance the product launch of MigraSpray. Therefore, lots of dilution will be in the common shareholders future.
Once most of the authorized shares are issued there will probably be a reverse split, of almost 1 for 50. I totally agree with you on the likelyhood of the reverse split.
If on the otherhand, Sales continue to sputter... NAWL will surely file for bankruptcy, whereby the common stock gets wiped out. Creditors will sell the assets of "MigraSpray" to a more powerful company who would successfully market the product. In this scenario, Arabia will be paid off in the millions and the common shareholders will receive nothing.
If you doubt this last scenario, just checkout the last company Arabia controlled... ICH Corporation.
This is all just my opinion...but, it's based upon a lot of research.
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