Running out of Cash / Unable to pay bills (1 for 15 split)If you read the annual report that was sent to you recently it says that the company wants to do a 1 for 15 reverse stock split as SOON AS POSSIBLE.
They state that they are unable to raise cash at these levels as institutions are forbidden fro buying.
Proof was submitted when they only raised 32% of the PP for $ 500,000 and, they had to pay $ 411,000 in debt through shares.
Add to this that there is a supply of 180 million shares wanting to sell.
I expect a LOSS from operations, cash to be in dire needs, debts on its books, miserable grross margins and, very modest revenues.
