Here's the deal. They do not make a profit and therefore can only pay down the debt via stock conversions or asset sales. Asset sales require an 8K filing (as was done in Q1) and debt conversion to shares are tracked by the transfer agent. They maxed out the authorized shares in Q1 in order to pay off $7.5M of convertible debt.
The Q1 earnings release will not reveal anything that isn't already known regarding the debt reductions that occurred Q1. If they refi debt or complete an asset sale, then they must file an 8K. The point is that we need news other than what is already occurred during Q1 for this stock to move up. That information will be released separate from the Q1 ER and since they do not have conference calls any more it will be in the form of press release. That what we are waiting for. It that does not happen before the Q1 ER, then the stock will most likely drop further IMO.
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