This stock has issues.... I think we can ALL agree on that. The last 2 updates from the CFO (the Wunderkid) killed the Stock and left many of us dazed. I believe they can get it done.... the question is when and how much more dilution will be realized before they do. I sold all my shares around $2 and replaced with Calls. Why? I expect the stock to drop back to $1.60 (range) due to Co disclosed dilution and will rebuy then. BUT... if they have some magic to share (and they might because they have mentioned a share sale to benefit Large Shareholders who want to reduce their positions, they may run this up short term)... then I protected myself from getting locked out from the run-up while preparing for the pullback.
If it goes down, I save $$$, if it goes up, I make $$$. IF it stays the same, my risk is just the cost of the options (insurance policy). I doubt it will stay at current levels so I feel pretty safe. This is a short term play so I recommend the May $2.5 calls.. they are cheap but a 'surprise' will run this to 2.80+ with the Shorts scrambling to cover...
Shorting now, before the Call makes no sense (too much risk), Buying before the Call also makes no sense.... Short term Options is the smart play... Watch them go up as Shorts buy protection and Longs who like the Story but don't want to lose another 20%+ in value should we get another repeat of the last 2 Co Earning Calls.
We'll know a lot more next week. GLTA