This presents very bad opticsA Band-Aid on a severed limb.
Your CEO not only sold shares every day for the four days up to and including the day the contract cancelation was announced, but he sold shares every single day last week as well.
And now this.
The fact that the company had to attach warrants to the issue might be interpreted by the market as a sign of desperation.
It needed a "sweetener" to sell 1.3 million of stock at $1.30?
To raise $1.3 million with stock AND warrants at a 2-year low.
Try to spin that in a good light.
Impossible.
Maybe the company had to meet payroll.
Warrants are almost always attached to an issue to make it look more attractive, and to help it sell.
This indicates the company wasn't able to sell 1 million new shares at $1.30 without attaching a further incentive.
Anyone who ridicules my statements is a fool.
What I've posted here are facts.
This company is in trouble.
And if the CEO bought any of this issue, he's in trouble too.