Conference callI listened to it and the PP was for future acquisitions. They expected to do one in 2020 but Covid has made it difficult. They think they will do one within the first 100 days of 2021.They have managed the last ones without a raise but were approached about doing one by (I beleive) the new buyers who were trying to aquire a large block of shares. I have no problem with doing a PP so they can get a block of shares but the freebie full warrant at $1 is terrible.
The $600k fraud loss was an overseas scam and according to the FBI there were many other victims. They paid it off and the marketing person involved is no longer with the company. They have insurance and are in discussions with the insurance whether they will be partly or fully reimbursed.
Part of the bottom line not looking as good as it should is that they had to put aside money for a bond for the possibility of losing the appeal. They are apparently still fighting it and talking with Airwatch about a settlement.
They expect the Navy orders to start up in the next "days or weeks" so hopefully that will be announced soon.
There was more but I got interrupted by work.