OPT. This is a shell. They don't have a specific business plan because they are changing from the scam COBRA OIL and GAS to something else. No one knows what the future will bring. Yes, the have accumulated deficits, but without me going back and comparing this 10Q to the last few 10Q (since the chinese took over), there is no way for me to easily determine if they are just spending our shareholder money on frivolous things or not.
One thing to keep in mind, the PPS is near the initial buy point of this company by the current management and its .015 below the stock grant given last May to the employees. In other words....they have yet to monetize their own investment. Sure they may run this thing into the ground, but why keep spending money on reporting to the SEC?
We maybe in the toilet here for a while...I do not know, but they have a plan to R/M and so that is what I'm waiting for as long as I can.