The company has shown years of losses. Even with all the good news, the last couple of years, the company has shown losses with little revenue growth. And, the multiple reverse splits did not help. The company needs solid revenue growth and profits for the share price to go up.
I think it comes down to cash. Unless there were a lot of surprise revenues in Q4 I suspect they burned through another few million. This does not leave them in a great position when trying to raise money. What surprises me is why they have not started generating revenues with the cartoon network. That should be a cash cow and they need some milk in a desperate way.
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