Re: Opinion on this stock?
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There are significant uncertainties with regard to the Company's ability to generate sufficient cash flows from operations or other sources to meet and fund its commitments with regard to existing liabilities and recurring expenses. The Company intends to finance its future operations from the proceeds of a subscription agreement for the sale of shares of common stock and an additional letter of credit obtained from the lender (see Note 14). These factors, along with the uncertainty expressed in Note 9, raise substantial doubt about the Company's ability to continue as a going concern.
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All you need to do is read the latest 10Q and 10ks. I found the above quote from the last 10Q. Skimming it I saw more red flags and hair than at a 1960's yippie rally. I spend a lot of time on the pink sheets, which means I have to hold my nose to read many of the filings. Occasionally you find a gem that makes it all worthwhile, this one looks more former than latter (i.e. more stinky than sparkly).
A lot of small companies are doing reverse splits (to reduce their shareholder list) so they no longer have to file reports with the SEC. Sometimes they do it to save expenses, esp. with all the new Sarbannes Oxley requirements. Sometimes they just don't want the scrutiny. But even if they've "gone dark", often the remaining shares will still trade on the pink sheets.
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