Investors always tend to buy high and sell low, a dropping price is often not seen as time to accumulate more. no surprise though IMO considering the situation.
We can agree to disagree about the lack of news. I believe the SEC standard is 4 days after a material event is when an 8k is to be filed, though of course what is a material event to a degree can be subjective. To use your example- if the liability had been paid that implies (a) sufficient financing to do so which is certainly is material (b) certainly any penny stock would announce
such a financing ! If not paid, then certainly it could be construed as misleading anyone who has purchase stock on strength of those deals that they havent been paid. I suspect simply they will be re-negotiated, but it is surprising no announcement this week.
I wish CFO would have guts to believe in merits of the company to present updates whether they include some negative news or not, that alone IMO would develop credibility by answering key questions. It just feeds doubt the lack of news.OR find an IR/PR professional to take over shareholder communications. Looking at the press releases back to when cfo was appointed is quite an interesting exercise.
