RE:4.6 million shares traded
day traders looking for a quick flip. SP going up by 0.005 gives 50% gain if they can dump the shares.
Unfortunately the future looks very bleak here. They can consolidate and get the shareprice up but they still will not be able to raise money. The market cap will still be $4.5 million (but declining due to burnrate of current funds). Raising even a small necessary amount like $2 million (like they were asking for at the end of last year) would make the investor 40% owner/insider of the company and all of the obligations and rules surrounding that.
Only if a current SH wants to like Carten or Powlick but I don't see them sinking more money into it. They are probably already out huge sums of money over the years.
If the company is sold private or M&A what does the buyer get? Not much other than 25 year old patents/tech and some lab equipment at this point. The inventory has already been returned for cash.
It's a shame as there have been multiple times over the years to hit it big but EGT always seemed to shoot itself in the foot.
GLTA
DYODD