@grandslam... Well, it's good to be ready.
I have to assume that the ship has sailed on Q4 2021, since we are now well in range for Q1 2022. They did imply that they are focusing on that, to align with SEC requirements. What that means... who knows. It might just be evasive BS.
Worst case scenario is they actually are preparing for a true IPO, with the intent of creating a new class of stock that vastly devalues the old stock. And if they actually are planning something like that, well, that truly would be a declaration of war. Obviously, I hope it doesn't come to that. And I'm not sure it can, to the extent that the numbers don't work as I see things. The share price of an IPO would need to be in the $5 range, but the company just isn't worth anywhere near as much as that would imply, given the number of shares they would need to create. Nobody would be absorbing such shares. Certainly not the institutions that would be needed. Maybe that reality finally dawned on them, I don't know. It's all conjecture.
Along these lines, I think it is more likely that cooler heads prevailed after that turd of a corporate presentation last year, which they recently flushed. I doubt they have immediate plans to refile a Form 10, and I do expect yet more evasive language in the Q1 report. If we can get an audited financials & share count, and some reasonable assurance that they at least are not pursuing an Armageddon scenario for legacy shareholders, that will be enough for me to stand down. For now.
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