This toxic debt was paid off last year. The Indian investor who put up $5 million, $1.0 mil. went to debt, the rest is $200k / month for 25 months, to finance operations. There is no toxic stock overhanging, it just trades that way. But there is promotion being leaked by directors (Sidlow's YouTube video) and others, which will go a long way to complicate any financial reorganization of the equity. D'Couto nor his advisers recognize the public shareholders as being relevant or accountable, since D'C's ambition is to have a private company. He is being well financed and seeking MORE, but is advised that the price of the public stock is the only impediment to a higher valuation. The last round was at a $50 million valuation and the next is targeted at the same level. Unfortunately, the new investors are somewhat more sophisticated than the last, and can't get past the public valuation of $1.2. So, rather than respond with an open discussion to the marketplace of the encouraging events of the last 12 months, and respect the intelligence of their shareholders (which would certainly adjust the public valuation, and save a lot of legal fees) D'C wants to absorb the public shareholders into a private model where "HE THINKS" he can control the valuation. There are however, others looking at the opportunity with an eye toward the legal and regulatory hurdles that stand on the horizon...as well as the value of the public shares as they stand today, and going forward.
The game is not over, and there will be another chapter.
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