Owned a lot of shares of this sucker at 2.80 at that time believed in the company story, industry and hopes...should have sold out at $3.30 on the spike before the earnings release...made the mistake of holding during the earnings report and held even after the secondary announcment.
I sold out at a good loss at 1.21 last week and with good reason. Stock is headed below $1.00 and will be delisted as what has been recently reported.
Once it is delisted...forget it. The chance and percentage of companies that do get delisted and come back are minimal at best. Once the delisting of a dollar stock happens, that is the kiss of death.
All the hoping and pumping about this being the next GE is not going to pop up the share price anytime soon.
The little contracts of 250k is really nothing. They are losing money by the bucket loads...
Good luck to you longs ...for your sake I hope I am wrong but with only 4 months left in the year...I need to recoup my big loss on this lemon on something else.
Don't feel bad. I have the same feeling you do about SATC. I bought at 1.35 and sold in the 1.20's. They have good technology, but they need to shake up the management, and that means putting a guy in charge that can evaluate their technologies and cut out the BS projects and focus on the projects that can produce some meaningful revenue. Dave has gotta go. I rolled my money into a company that I have been watching for the last 2 years. The company is SMVD.OB and they are in the hot video to portable device market. When they recently dumped the old management and brought in some heavyweights to run the company, I loaded the boat 2 weeks ago at 1 a share.