"Makes no sense"
100% agreement.
I guess they are uncertain about making the NASDAQ continued listing requirements and want to remain listed there come hell or high water.
My feeling is it's so that they can issue as needed to keep the salaries coming in.
In the past they've shown no regard for retail shareholders. Long ago they made a few statements that demonstrated that, like they don't worry about market share price but focus on running the company and, later, need to get institutional invesors back in after disclosing a very high retail % holding and very low institutional % holding.
Well, in spite of his disrespect for retail they are all that's holding up SP even at this low level after the huge 1:20 reverse split and subsequent plummet like a stone.
My guess would be mostly short-term traders too.
If they can stay listed until that last unneeded lease ends in calendar 4th(?) quarter the immediate improvement in reduced expense ballooning margin some more and seeing results flow right to bottom line might make the RS unneeded IFF they can regain the market trust they squandered over the years with unmet rosy forecasts and the 1:20 R/S.
MHUO,
Bill
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