I know that they keep promising a lot and not really...

I know that they keep promising a lot and not really delivering....I need it to nearly double to break even...

My take on it is this:-
They have unequivically said that volumes will "Dramatically improve" for the rest of this calendar year. They obviously believe that statement because the placement they are doing that settles next week is underwritten by a company associated with the chairman. With the market where it is, that underwriting agreement is going to be leaned on heavily...There is no substitute for management having skin in the game imo.
The white label products are a new direction with a big hitter that could be a company making product.
I guess that with cash in the bank, funds from the current placement incoming and the company at more or less break even from their current activity, I see very little chance of insolvency.
They are also in discussions about corporate activity and perhaps hiving off parts of the business. With all the weirdness in business circles since the pandemic began it is hard to effectively analyse whether they should/could have done better over the last couple of years.
Given the Market Cap is only $35mm, I think the potential for upside is still good, insolvency risk is low and management all took up their allocation in the placement and are getting decorated in a chunk more.....
Personally I am willing to give them to the end of this year to perform...If they dont, I will move on then....

Have a great weekend xxx