Canceling spondoolies merger caused the sharp drop mainly apparently and is already factored into the low price, company has written it off on the filings as well as loss of leased equipment, focusing on working with the existing debt holders to go in a newer hopefully bigger direction. But as Charles keep saying -- has to, to not give false hope and be compliant with SEC reg's -- there "are no guarantees they'll be successful," important for you and everyone to keep this in mind, hopefully they won't have to dilute/ add shares to satisfy creditors that hurt existing investors, dilution and R/S cannot be ruled out, but JMO it's silly to sell, JIMO think it's a good point to take a chance but always don't invest your rent money.
meanwhile it's not a rev-positive company but focused on cutting expenses and CEO says committed to hanging in there if t all possible, going for the big prize not peanuts;
the CEO is taking 50K/ year compensation (though he has other roles in other co's meanwhile), meanwhile the A/S are virtually maxed out, yet few are selling and there is steady buying and higher volume yesterday --
to me significant that there is so much stability albeit at this low level despite a holding pattern. JMO high risk but as the first and so far only (?) publicly traded company in this space certainly at this level, although ETF's are being put together and coming out steadily, worth very careful watching and if news IS announced it might be late to jump in.
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