I think these guys are moving in the right direction, but it's...odd. I'd love to know who "Customer C" is, and I kind of wonder if that is tied in with the ct order. The recent offering of just over a million shares was done to erase a boatload of debt. More shares out, but less debt, and they did a 1:3 split in April. The prospectus also has a statement that essentially says "we just dumped a million shares on you, we might do it again". Kind of a boilerplate statement, but it's there.
Long story short, I have a LOT of reading to do before I can see all of the bigger picture here.