Think about thisThey year low you see on your screen happened on December 13, 2023.
It was 36 cents.
It came during tax season, almost exactly one month after Q3 was announced on November 9th.
The biggest major huge concern here isn't revenues or earnings, it's the balance sheet.
Last year, a month before the stock made it's low at 36 cents, the company announced revenues of $3.7 million, a loss of $6.3 million, and cash in the bank of $900,000 included in a working capital deficit of negative $6.4
million.
Three weeks ago the company announced revenues of $4 million, a loss of $3.9 million, and cash in the bank of $40,000 included in a working capital deficit of negative $10.4 million.
The company's balance sheet is far worse today than it was a year ago when the stock was plumbing multi-year lows.
Far far worse. Raising money at lower and lower prices with more shares outstanding isn't sustainable.
It was 36 cents last December 13th.
Tax loss selling is coming.
What makes you think this year won't be different?
What makes you think it won't be worse?