Both years mostly for inventory reserves.
I compute book value per share to be approx $3.215 per share. (Exluding diultion from options)
Thats SE of $17.811 divided by 5.54 million shares outstanding. (Added together the 2 classes of shares, did not account for options)
Insiders continue to slowly buy the shares. But there doesnt appear to be any endgame in the near term.
Value trap ?
This company comes up on my screen. It will probably get delisted soon. All this is company is good for is a reverse merger. The shell is definitely worth some money. The actual company is worth none.
It wont be delisted as long as the stock stays above $1 and it always has.
Their value is not as a reverse merger, its in eventually shutting down & monetizing the value of their inventory or selling the company.