Thank you for your sensible analysis and comments.
I am not at all convinced by the allegations of fraudulent dealing and as they haven't actually filed anything we can't even peruse the financial statements for clues.
Like you, I am convinced that they are desperately short of cash and the equity market is closed off; accessing debt is probably next to impossible (at least on affordable terms). So, some sort of purchase order financing is likely to be their only shot.
Personally, I need about a dozen pages of disclosure to make an assessment of the company's state, not the hundreds of repetitive pages that are demanded by the SEC. If they can't find a simple, affordable way to get up to date with filings, I think they shouldn't waste tens of thousands of dollars (which they don't currently have)on non-revenue-producing compliance.
Being behind on filings is like a gag order on management and the Board so they have said precisely nothing (thereby fuelling persistent rumors). And yes, new management is almost certainly needed as a result of all the strategic errors. What we need first is a tender offer from either an investor group (or an established company) and we will all be out of our collective misery. I will continue to buy some of their products, which I think are very good.
News 
Market Data 
Discover 
