in short, the company had a shady CEO for a number of years and until recent (last 2 yrs), the company is slowing turning around. previous management was delinquint on filings thus resulting in the problem we are at today.
personally, im not concerned with the company. it still has a lot of value even if its private.. they still have a good team in place and re-quired their ADS.. look at what the current management team inherited, there's only so much you can do with a polished turd..
i think they made the right decision and with some creativity, who is to stop them from doing a RM into a shell company? i've seen that done and makes sense because in the end, it'll save them a lof o money reverse merging in a shell than releasing an IPO..
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.