I agree with the sentiment that they're frontloading the bad...

I agree with the sentiment that they're frontloading the bad news to get a clean slate. Sell down happened before this 4C already when they announced cutting of contracts.

I don't believe they went from 24% margin over the last 9 months to -18% margin in the last quarter so they've obviously built up inventory. They also mention a reduction of staff cost that didn't show on this report. They also mention new product lines being launched by major customers.

All of this sounds like a classic turnaround strategy.

As for military, I think we're making progress but I'll be happy to see a contract within 12 months. I'm not making the same mistake as before by thinking it will be "imminent". That one contract will send this stock back up to near $1.

Regarding the CR, technically they haven't spend any of it yet so it's possible that they actually did need to shore up their balance sheet to pursue the military opportunities. Considering the progress made, I'm happy to give the benefit of the doubt.

I don't think this will see sub-10c because like I said, the sell off already happened. Looking forward to the next 12 months, but if at any time we lose military I'll probably have to sell for a huge loss.