They missed the 10K.. still has not filed.. Then they could not get agreement re. OEM for new models + cash injection and hence, the share price collapsed.. That also meant, their cash injection of Convert was tied to getting an OEM deal so that collapsed and leading to share price collapse..
At which time NYSE says, share price is too low and immediately move to delist the shares in a day so now it is no longer trading on NYSE... Today, it was trading on pink and not even OTC..
Then today they have announced, 2023 Models of Ocean, the inventory will be sold with deep discounts as of Friday, tomorrow.. I mean really deep discounts..
So question for share holders as well as the Ocean owners is what happens next.. Do they survive or not.. They had previously announced that 2024 model will start in April since the current production is halted until they get rid of the 2023 models..
So it does not look good.. Really sad, since the Ocean, which I test drove is a pretty slick SUV..
FWIW
p.s. That I also means of course, this has been one of the worst years for my portfolio.. Since all other smallcaps are at 52 week low and in some cases, near all time low.. |
