The fillings show a substantial amount of the debt is owned directly by the CEO...he has been owed this money for quite some time yet has not converted a single share...
I think a bigger factor is a group shorting the piss out of it...explains the massive amount of new accounts screaming the sky is falling, app sucks, blah blah blah Along with the blatant L2 manipulation
Folks who have no true interest on a stock don't spend every day posting about it
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