Complete lack of transparency. Cut corners on SEC filing requirements by burying serious problems in non-US jurisdictions and proceeded to issue additional equity under false pretense. Mountains of litigation that will further drain cash.
The only thing that can drive this materially higher is institutional long money - and they are OUT. The problems with VELT are too great and risky.
At $0.36/sh - what else do you need to know? This has become a game for retail pikers trying to scalp pennies. As an invest-able issue, it's over for Velti.