it has nothing to do with it. no one looks are fiscal year data. it was about a poor fourth quarter and poor guidance and poor management of key shareholders. hints at weakness in kombucha and a failure to delineate a reasonable business plan killed confidence in the company and chris reed for the near term. investors are hopeful by nature, but a lot of money left the stock. a lot of conviction left the room when chris essentially tried to pretent the quarter didnt happen. listen to the call. you can hear the disappointment.
essentially reed sounded like a kid starting a company from scratch. and that is not what people need to hear from a micro cap stock. once you sound pompous and self-satisfied, a lot of mature investors will walk away from you. once they heard that the company was cutting marketing, that meant slowing growth and a struggle to make a profit. you can not have both. hence the crash. it was clear he does not know what to do next. not in production, not in marketing, not in branding, not in product development. it was horrible.