This is the biggest concern I see as well. Unfortunately, our management team 'counted their chickens before they hatched' and seem to have assumed that Google was won, and would be paid by at worst mid year next year.
At worst, they felt they deserved to take excessive salaries and comp and now we are in a cash burn conundrum with a very very low share price, where any dilution really screws shareholders.
Personally, I believe this is why Pearlman / Lang have not bought a share, because they know that dilution is a likely outcome here.
From my vantage point, and I am down heavily like many here, I am simply waiting to the end of this year to see where we are financially and where the pps is. If there is no settlement with zte by the end of 2014, we will see dilution by mid year 2015 in my view...
Simple math tells us this. They are burning 7 mil a qtr (almost 1/2 of that is going to management, which is absolute garbage, don't even get me started there!)....so with 29 million on the books that's 4 quarters left... with 2 left they will have to go out and raise more...
Perhaps this is why the short interest covered then re-established positions - short interest report says 16 mil as at Aug 29th (after the collapse), which is only 1 mil less than prior. In my view, shorts covered in that huge volume 2-3 days, sat back watched the bounced then pounced again, because of this issue in particular.
This management group has failed us all miserably and has enriched themselves significantly at our expense, without ever achieving anything material for shareholders.
Personally, I am just hoping for something out of left field for a pop and exit before the end of the year.
GLTU
News 
Market Data 
Discover 
AI
