We're all entitled to voice our opinions as this is an open forum, but the investment community has the option to choose what they invest in and hopefully has done the DD....I don't think that just because a company is late filing means a "fire sale or bankruptcy"...if that were true there would not be many penny stock companies on the OTC....and "fire sale or bankruptcy" is the ultimate, absolute worst case scenario that could possibly be suggested...and unfortunately there's no link that can support this...or disprove this.
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