Short answer;
Age and a lack of funds.
Given his age and the fact that the company has now been exposed.....no toxic lenders will be interested in loaning money to a failing company.
Does anyone here really believe this guy received millions in loans based on his prior LOSSES. A straight up lender would have look at the financial records and said; NO THANK-YOU!
In order to get the type of money Berman received, they look for a path that allows them a profitable means to obtain shares and make far more money than the company ever will. If you happen to find a shady CEO to pull this off, the more money they will keep providing.
If anything, they will cut what ever losses they are sitting on (nice sell off yesterday) and move onto another stupid CEO.
No the writing is on the wall...heading to sub penny land, based on the added share count and NO profits!
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