as to why the stockholders meeting was postponed to October, why IR stated ER date was not finalized and why there was a lack of PRs from management. Certainly, they knew the fix they were in when Brandon Hurlbut joined the Board. With his DOE background he must have been aware of the company's condition. Perhaps he was taken on because they thought he would have influence with the DOE.
Apparently they were aware of their failings when they filed an 8-K for shelf stock.What was their intention? Oddly, the headline regarding the 8-K filing no longer appears.
They were aware of all these issues a year old, base on people on the inside. the DOE knew that this company had too many issues to survive, but waited until after the election was over and the administration was clearly in their second term. As a Fact: The VP of Engineering and GM of the Labs area are a joke. They had no idea how to build quality in the items they put together, but they got a title and big pay. I forget, the Government and taxpayers were paying for their large salaries and little talent.
Yesterday, I was committed to leaving this stock alone, but I've done a lot of thinking about the recent turn of events. A buyout seems highly unlikely to me for one main reason....... if things are as bad as the news articles say they are, who would want to take on a company that is building chargers that melt batteries, have no positive cash flow, and lots of liabilities. It would be much better to pick up whatever is left after bankruptcy, after liabilities are cleared, once you know exactly what you have and are left with.....which will probably be next to nothing.
But then again nothing is ever as it seems. There's more to this story than we have been told. It will all come out in the wash. For now, I'm sorry for everyone's loss, and this could potentially turn into a solid investment in the future again if things get settled, but for now, I'm salvaging what I can until the waters clear. Investor confidence will be shot for a long time, so don't expect this any time soon, if ever.