In its last financial statement, released at the end of March, the company was down to just over $3 million in cash reserves from around $10 million at the end of 2022, and it is now exploring the potential sale of its remaining assets in a bankruptcy proceeding that could “result in a complete or substantial loss of value” for its shareholders.
What did these idiots spend 7 million on in 3 months? Smells fishy !!
Three board members have also resigned, taking it below the minimum needed to stay on the main exchange, and it has now informed the Nasdaq it is unlikely to come back into compliance.
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