Took a look at the annual report released on March 1. Here's some highlights:
- Current assets down to $800k vs current liabilities of $850K
- Cash and AR of $800k total vs AP of $450k... so basically net working capital of $350k assuming the other current liabilities will somehow be deffered
- Q4 operating loss of $330K on revenue of $520k
With $450K absolute maximum of available liquidity, they will be running on fumes right about now so you should expect 1 of two things in the near future:
1. massively dilutive equity raise
2. massively dilutive convertible debt raise
Nobody other than an insider would ever lend money to the company at this point, so it's going to be an insider, or a round of insiders and family. If this does not happen they will be toast likely before the end of Q2.
Either way your investment in this company is essentially worthless.