if i were underwater (i'm not) and liked the stock, i would have to seriously weigh opportunity costs of potential higher january price (can't get in for 30 days if want to take tax loss) vs tax loss deduction. therefore i think yearend tax selling has ended for those who like the company.
as they are very profitable, the only reason I can see for raising cash is for expansion and/or acquisition. Nasdaq listing would improve liquidity in the event the owner wants to sell a major portion of shares.
JC has clearly articulated a plan and is implementing it. Phase 1 - cut costs and spend more wisely (targeted marketing vs wasteful corporate sponsorship) - this has been done. It has greatly reduced losses while sales dropped double digits. Phase 2 - Grow sales while keeping expenses under control (eg seasonal staff). We are in transition between P1 and P2. During last quarter sales declines ended. Additional clients have been added and there are plans for rollout of natural soda beyond CA. 2014 may very well show both growth and profits imho.
Long term unfilled gap at $4
I wonder how much of the large buying is investors vs MM/traders scalping a few pennies a day on thousands/tens of thousands of shares. The latter is common when BB's are far apart and volatility is high.
to buy back in i need to see more convincing info that they are on track to profitability. i think the easy money has been made - eberwein almost triiled his initial investment. market valuation has gone beyond value of NOL carryovers and is discounting either success of product and/or IP infringement lawsuits.
my understanding is that nearly all of the liabilities you speak of are associated with the lessee not the operator. the exception is the $386k penalty which TGC has made provisions for - it was their responsibility as operator to file paperwork. they are appealing this. readers of this thread should contact the company directly if they have concerns. don't rely on traders whose posts flip from positive to negative depending upon their position.
"It is understood that this designation of operator does not relieve the lessee of responsibility for compliance with the terms of the lease, laws, and regulations applicable to the area"