RE:What about the $4.5 million in Convertible due September?Take this $4.5 MM payback and add another $5 MM for future capitol expenditures to cover losses in continued operations, so $10 MM total financing.
They'll do a 1 for 20 to 1/50 R/S and then do this financing.
You all know "rinse and repeat".
The company is now where EVE was at prior to their R/S but a R/S doesn't address how the company is managing basically, financially.
A cleanup is needed with the injection of new blood into management . A new CEO at least is in order otherwise rating will continue to be rated: Avoid.