I sold out at a loss on this pop today. They're making a ton more money on sales but still losing a ton of money to make those sales, they have $9Mil working capital deficit and only $600 thousand in cash. Where do you think they're going to get that cash from, selling more stock after the reverse split. They said, "We will require additional funding to finance the growth of our current and expected future operations as well as to achieve our strategic objectives. We believe our current available cash along with anticipated revenues will likely be insufficient to meet our cash needs for the near future. There can be no assurance that financing will be available in amounts or terms acceptable to us, if at all.
In response to these capital issues, management has taken the following actions:
� seeking additional third party debt and/or equity financing;
� continuing with the implementation of the business plan; and
� allocating sufficient resources to continue with advertising and marketing efforts.
We continue to explore potential expansion of products in order to boost sales, while leveraging distribution systems to achieve lower costs. We need to continue to raise capital in order to execute our business plan. "
No investment banks will be buying the stock after the reverse because 2 people control 51% of the voting shares. Nothing anyone else has to say means nothing to these guys and large money banks will avoid them and they will have to take the lousy dilutive deals to get money from the offshore crooks. I do think they will try to keep the share price above 0055 for the price to stay above $4 on the reverse. Then within 30 days will start selling shares again and down it will go again. JMHO!
im sitting on 600,000 shares and pretty #$%$ off. Company is still losing money, their management sucks I am lucky to be averaged out at .008/share so im honestly just hoping this stock can make a run to .03 or .04 again like it did about 6 months ago so i can sell and never come back.