geez, even the warrants are no longer "in the money'. we are toast!
investors do not buy stock at 87 cents when the market price is 69 cents or lower. at the current burn rate, the company would need to sell 10 million shares a Q to simply survive, and, each round of selling takes 10-20% discount from the current pps.
to get 5M dollars, Hong would need to do an offering at 50 cents...minimum at this point in time. No cash, no business, declining enterprise value, etc. Then the vulture capitalists, NOT INVESTORS, will short this thing to bankruptcy. And, I would not even doubt that hong would not endorse such a deal. He will sell out shortly...he must to walk away with anything.