Note 14 is unusual. I don’t recall seeing that in the past. It’s concerning because it is self reporting a weakness in their internal controls. They said they are working on fixing it. So financials are garbage right now.
Full disclosure- I analyze financials of companies in distress for a living and have for 30 year. I bought into this stock 3 years ago thinking this would be a decent investment after COVID but didn’t count on the ownership. I tired to give them the benefit of the doubt averaging down from earlier book losses. But they did it again. I didn’t invest too much second time but it burns me. First time they diluted and lied about lots of stuff. Now this just sits wrong. There may be a plan. They may be holding it for some bigger payday but this stock will never reach $1s. Not at the current stock levels. It’s not hitting a penny unless the share count is reduced to well under 1 billion shares. Reverts split was cancelled for. If Deng tried a reverse split he will get sued. We all have all the screen shots of his lies. Then he better run back home. Glta
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