You act as if this product is an imaginary fiction. They have the best technology of AR. Awards, accolades, acknowledments etc. They just raised $8,000,000 on their own in whatever fashion they felt was best. Investors bought the shares, they didnt swindle an old folks home. They even bought the over allotment. The debt holders converted their debt, they also carried them endlessly because they believed in them. Now they converted the debt and they got a discount. Perhaps this was part of the plan, payback for their patience. Sure, they will sell some, but I bet you they are keeping the majority as an investment that will pay off 10 fold. The bottomline is... this is no fake, this is a tiny company with great technology and vision. Will they need more cash down the road, probably... and they will get it. Its not a pipe dream. IMHO, Once this offering is digested, the PPS will rise because this company is in the best financial shape that it has ever been in before with more ability to execute then ever before. The next 6-12-18 months should be very interesting.
We are near an all-time low stock price and have just been seriously diluted.
While I believe in the technology, the results for common stock investors constantly disappoint. This started out as a $10 (adjusted) stock a little over 3 years ago and each year it has progressively fallen. The stock has lost 50% this year while the NASDAQ is up nearly 20%.
BTW, they were in a better position "to execute" before they sold the Tactical Display Group (military products division). Cleaning up the balance sheet is good, but increasing sales is critical. Revenue the past two years has been a fraction of what is was 2008-2010.
People can claim this is a "10-bagger" all they want, but until you show me specifics (financial results, contracts, increased sales), it is all pumping to me. By the way, they didn't raise $8 million - they raised $4 million; the other $4 million is in warrants that have a 5 year life.
I've been long in this company quite a while (check my old posts on this board), but management has made me a doubter. I hope to be proved wrong soon.