The latest CD appears to be the most destructive. After going back and reviewing the duchess filings the deals got progressively worse starting with a relatively benign private equity line and culminating in two back-to-back floorless convertibles. Why didn't they just renew the private equity line so that it stayed at the company's discretion as to when they put the stock to duchess. Now, duchess is running the show, selling stock when THEY deem it appropriate and driving the price ever lower. Oh well, as Austin Powers said, "that train has sailed".
Approve the new AS, do a private placement, pay off duchess, IRS, get PO's financed, get more orders...climb out of trouble. If that happens then stock will have an 18 mo. non-stop selling pressure (duchess) lifted and should respond. At that point the stock could be a bargain at these levels.
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