This was in the planning since the September investment into BZNE. They are acquiring manufacturing capabilities. At current share price levels the downside is quite limited compared with the potential upside from all the various strategic deals that have been announced over the last 6 months. You might want to find a better way to channel your anger then posting these nonsensical rants.
$20 is a conservative estimate. This is still a growth story. Profitability on the EBIT level will be sufficient at this stage. I expect an upward revision on the FY2013 revenue guidance when Q3 numbers come out which should drive the share price. Any update on the uplisting and nature of the SEC investigation will further drive upside
I presume you meant Series D? From the recently filed S-1 "As of August 19, 2013, 1,355,000 Series D shares have been converted into 2,710,000 shares of the Company’s common stock and 145,000 shares of Series D preferred stock remain outstanding."
There is a bit of restricted stock vesting overhang. Keep in mind Arnold received 780k shares so really need the fundamental financials to be solid and profitable. No more one off adjustments and add backs...