I agree, my thoughts exactly on the debt issue. What bothers me with the pps being stuck in such a narrow range the last six weeks is that the second quarter debt burden could adversely effect the cash flow even more, .017 vs .045 is a major difference. Do not want them to dig too deep of a hole. As stated previously, the pps at a nickle would solve a lot of woes. I understand why they claimed to want to buy back 100m shares, this is deemed as very positive, but with their cash position problem I think the money is better spent on day to day. I may be wrong, but this narrow range of trading smells of big $ investor MM controlling the range and are happy with a small percentage gain each day. The pps is stuck in 50/200mavg twilight zone, it hits the high for the day at the open, tests its lows a couple times and finishes percentage points from the prior closing pps. Maybe with such slowing volume this program trading will stop. I think even with the disappointment of $16.5 rev with a $16m loss, but with the projection of $75m in sales with a small number positive ebitda would have made this run to a nickle. I do not know of any sub two cents stocks doing this kind of revenue. You would think the management team would have been quick to add some prominent business types to their board to gain some instant credibility. Here we are on May 31st and nothing. The fact they were late by a day with the filings disappoints me immensely, heads would have rolled in my corporate days if such an unthinkable thing had happened.
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