I think it's the guys own little project. He went public to get the money, but doesn't want to "share the wealth." I remember there was a company in Alaska that sounded real good on paper too, and it was the exact same thing.
The guy made enough for himself to have a comfortable salary and go on the interview circuit but never managed to make enough to move the share price.
Like I said, I've given up on these ash wholes.
The time spent trying to figure out what's wrong with these guys could be better spent researching a better company. GL downside!
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