The thing I would focus on is the weakness of the balance sheet. They lost 1.9 million the last quarter and only had a couple million in cash. They have a revolving credit line with Coamerica but I believe that just got cut in the last week from 10 million to 7.5 million because they missed a credit line requirement based on their earnings. That is why the company just filed a shelf so that they can raise up to $30 million dollars through issuing new stock or warrants. When & if they need do this offering it will be at a price cheaper than the going market price of that day. This could be highly dilutive to shareholders.
This and the drop in revenue in the last couple quarters probably best explains the size of the drop in share price.
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