Yet again, lowest close since 2014, despite so many calling bottoms. In fact I think since early this year every other post has been calling a bottom. Dangerous to catch the falling knife of a business that burns tons of cash and does nothing with it IMO, unless you have insider news of a turnaround/fundamental change in business, which from the lack of change in director notices there doesnt seem to be any.
Right now 1PG's business model is equivalent to purchasing stock for $1000 and selling for $20, and calling that revenue. 1PG has had more than 2 years to prove its business model, and like most specs, its failed. At current SP, this business model is valued at 30M. I just dont see the value here. Yes it could put on a 50% relief rally but that doesnt make it any less overvalued. Anything above 30c is just too risky IMO.
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