Nothing specific today, looks like someone getting frustrated and getting out of a positon. It's more of the same with MRIC, no communications and the constant overhang of dilution. There will have to be yet another raise within the next 3 months.
And there you have it folks.... 1-15 to 1-40 reverse split and 50%-60% dilution. Can't say I'm all that surprised though. But sure enough i bet there are going to be the eternal optimists that are going to say uplisting is a good thing. I would disagree, this company has to get its "stuff" together before uplisting. The fees and listing requirements are too much for a company of this size. This has been one of the least "shareholder friendly" management teams that I've been involved with. The stock is now down 75+% since Grillo took the helm. How has he created shareholder value????
Yes, they announced the debt conversion with Brainlab 2 months (and they are already underwater). The company may not "need" 15MM but if someone could raise them that amount, you better bet they would take it in a heartbeat. Take a look at some of the secondaries that Roth has done and how far in the hole they get priced......that will give you an idea of how big of a haircut we will take.
Grillo has proven himself to be an investing account disaster and yet on every CC you'd think the guy and his "accomplishments" were revered throughout Wall Street. This bozo needs to walk the plank post haste.