This is old news. But what is pertinent is defining how cobi is going to raise money to be able to act on the plans outlined by the ceo - sponsorships of artists and industry specific marketing. Remember, they recently had to borrow $19k just to build inventory. This would indicate they are capital poor. So where is the money going to come from to achieve the new CEO's plans? Well, they just increased the authorized share count by a half billion shares - my guess is they are going to dilute shares to raise capital. But a half billion shares at current prices will raise only about $200k. To sponsor artists and invest in marketing will likely cost significantly more than $200k. So where is the capital going to come from - further dilution? Possibly a reverse stock split? Debt financing? And for these reasons I question those that believe the stock price has bottomed out. My opinions as always
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