They need a minimum $3M, probably $5M. The problem is the market cap is only $8M. Yes they can get cash but what sort of dilution given they need to raise 50% of the entire market cap.
The CEO had to go no doubt but the buck stops with the board. Ron W has presided over this entire debacle as Chairman. He did a great job at NAN and EMV but he was asleep at the wheel here.
Short Shorts, page-26
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