When you look back at all the times that JG has supposedly reafirmed the troops that thing were going well, the reality proved to be the opposite. Perhaps he is just unaware of his current reality. His reassurences don't carry a whole lot of credibility at this point.
He never takes responsibility for anything either. He blames a lack of be able to raise money as the prime reason for failure. Yet when he did get his hands on all of that money, he went and bought real estate with it.
He admits that they are a long way from getting financing. So I don't think that one can take his comments about how surprisingly well very seriously at all. End the end, the best outcome is for them to be what they were before and that is a speaker manufacturer cranking out a million or two of revenues from a church or bowling alley here and there. That won't quite justify the $150-$200 million valuation they carried before.
If they get lucky and can get rid of the preferred, which does not appear to have happened, with only 100 million shares outstanding, the stock at just $.10 per share would imply a business valuation of $10 million dollars. A valuation at that level would require $2-$4million a year in sales. They barely reached that after spending $20 plus million.
I think the chances of ever seeing this stock above a quarter again are faily slim.
But that's just my opinion.
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