Persistance pays off!
Finally got some answers. Company is doing fine, actually, I think she said better than ever. Things have been moving pretty fast for them these past 2 weeks. Business is growing and they continue to work diligently to get all of their costs in line so I expect even more cost cutting announcements.
Quarterly filing will be on time. They should remain on Nasdaq until then because their filing of appeal takes priority over everything and puts the delisting on hold until appeal is addressed. But as mentioned in PR, company only appealed to allow them to get filing in and remain current to be eligible for the OTCBB. Once filing is in they will request move. They have already gotten a market maker to file the form 211 for this. So expect move to OTC right on heels of quarterly filing at end of September.
They are concerned with share price but have been informed by Nasdaq that nothing illegal is happening with trading of the stock. Nasdaq has been watching the trading closely because of the delisting notice and quick drop in price, and larger than normal trading volume..
Around 72% of stock was held by intitutions and was dropped when share price fell below a buck. I suspect the other 28% bailed when bottom fell out. Plus when you take in shorters that surely jumped on it when fall started, explains last weeks volume IMO. I suspect those 100 share whacks last week were part of shorters trying to lower pps to cover, again IMO.
She also said they are in Europe now working on more business. I think she said new ceo, or somebody up there was new, and was doing an excellent job righting the ship and getting this thing turned around.
She said no dilution!
I am trying to do this from memory so I hope I got it all correct. I was driving when she called so couldn't take notes. I wanted to share this so am doing the best I can under these circumstances.
Hopefully, we get an update out by the company to officially let everyone know they are doing fine and to outline their business plan for moving forward. Irregardless, I now think this will turn around when everyone sees the filing and will fly when it hits the OTCBB.
AI
