Yes, same sentiment here. They will bankrupt the company trying to fight this lawsuit. The market is already discounting their cash reserve, the entire company is now valued under $1M, minus the cash. But how can you force management/board to do the right thing for the shareholders? Surely Matt doesn't want to lose his job in this economy.
I'm glad to see people contacting the company and urging a sale. The small investor owns most of the shares, not insiders and institutions. The best way to encourage a sale is unfortunately to vote with your feet and sell your shares. I see by the price it's happening already. When their stock price is down to nill and they can no longer raise cash, it will put a lot of pressure on them. Any additional financing will become very dilutive and unattractive. Should get interesting. I wonder how the lawsuit will affect any of their deals/contracts that are in place with their partners....their partners may also start to put pressure on them as well if they think the company may not be in business in the future....GLTA