RE:The Elephant Man of stocks There are ZERO positives.
Backlog proves that 50% ITS growth is a fantasy.
And they took no action to increase prices or slash costs or the corporate structure. Instead shareholders eat all of the cost overruns and management missteps
Announcing the backlog was a desperation move. And it is an unimpressive number that confirms the growth will not be enough. They have to slash costs hard here. The only move that one would make it they are going to issue common equity. Frankly, they should be raising equity at anything above $2.00.
Watchmaker selling at $2.10 was not a coincidence.