RE:Options/WarrantsAbsolutely, this is a one main reason. This was the last Placement they did in July that took over 2 months to close raising a measly $2.7mm, and was done by CEO at a great discount of .09 cents, when market price was .12 cents. Another feeding their friends and associates and themselves who also participated. Great discount while retail investors were buying the stock at .12 13, .15 and .20 cents right up to .30 cents. This was a desperate move by CEO to stay alive , for a while to ensure salaries continue to be had. They also gave management that massive 8.8 million share stock options that created more massive dilution and all these events snd past events has caused the results we see today with their poor balance sheet with all that massive massive debt of close to $30 million, with little hope of being able to be repaid. This is what we are all investing in...a company for may be insolvent very soon, if they don't resolved their problems , to restore production.
Only we see delays after delays for last 10 months, and no closer to resolving these problems. Company still has not installed those velocity strings, and hasn't obtained consent from partner TAPO as stated by CEO on latest Video interview. It's a joke!!! NOW, WE SEE RESULTS of their balance sheet and very much appears, they are definitely to require more and larger financing, problem is, who will give this company money under these conditions..would you and trust this management team sfter seeing all these events. Look at all the past placements in the last 3 years that partipated in close to $60 million dollars at much much higher prices than today and ask them how their investments in this company is going. Highly unlikely they can attract any future financing at this time, certainly not at current prices of .14 cents. Only see more down side from here, let's see how markets react in the next few days.
So yes, these are the reasons, along with many many others in the last year, that we see delays after delays, lies after lies, Huge massive dilution, especially after that huge 5:1 stock consolidation and massive salaries, bonuses, stock options, RTU 's and Warrants extended to management.
That's why we are where we are today, close to being insolvent. Good luck, to all holding. Like I had said many times to those who have decided to sell and exit, do it at time where you see large volume buying with price raising just as we have seen many times and exit in a orderly fashion to preserve as much of your money as possible.