I agree. Not sure what mgmt were thinking 12 months ago. All I can imagine is that they either: (1) were expecting significant positive operating cash flow within months that would have been sufficient to raise necessary funds, or, (2) could go back to the market with a CR at a price point > $1.50 based on strong(er) results and improving outlook.
Either way, mgmt fell flat on their face.
I am holding for another year or so in the hope of continual improvement in the qtr'ly results. Under different circumstances I would be buying at these levels but I have caught a few knives since FDV was at $1 and I cannot justify risking any more on this one stock.
FDV Price at posting:
36.0¢ Sentiment: Hold Disclosure: Held
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