It looks much deeper than that. What did Cris just change CEO for? I know what they said.
I think the shareholder common are tired of the dots that don't connect. 13 years and $900MM for a $1.65 is wearing thin. Patience is exhausted with the waiting for outcomes. It is a good entry point but very painful for anyone riding it down from $4. Management needs to manage situations like this one. Maybe they will.
I hate to see them sell the company but I am not real clear how they get to profitability any time soon. Without cash, they could have a fire sale not to their liking. Knowing how shorts play, that may already be starting. Secondary offerings are not a real good option for a $1 stock.