$KOAN is structurally bankrupt. The company's operations are not self-sustaining and $KOAN is unable to function as a going concern without ongoing access to capital markets.
$KOAN must tap capital markets to remain a going concern, however then-current shareholders are wiped out every time it does so. This is how the company has been since long before Geoff Selzer took over as CEO and then Chairman.
The coronavirus pandemic has only spend up realization of structural bankruptcy, it hasn't changed it. Basically the tide has gone out and even the dumbest shareholders can see $KOAN is standing naked.
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