The 10q also states “ SNPW has been insolvent since their inception and have required debt and equity financing to maintain operations.” “They have failed to create cashflows from revenues sufficient to cover basic costs.”
What I believe needs to happen is to produce revenue/profits to sustain operations - where is this going to come from short term? I firmly we believe we need to understand a timeline for revenue generation - would be very beneficial to sustain this run.
Further, implementing the 1,000 to 1 reverse split would seem to satisfy the filings noting the reasons for a reverse. At current value that would yield an $8 post reverse price. My opinion is that such a price would be hard to sustain for an insolvent company and could take a tumble. And for this reason I hope the reverse is not implemented, at least until they generate revenue to sustain their operations.
My opinions as always.
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