Overview
- Shares spiked from about $0.55 to as high as $7.69 in days after short interest jumped following a dilutive restructuring announcement.
- The gains reversed after lackluster preliminary third‑quarter results on Oct. 24 prompted a large sell‑off.
- The debt deal temporarily staved off bankruptcy by converting obligations in a highly dilutive move.
- Sales have been declining since 2021 due to stronger competition and a cooling plant‑based trend, leaving the company unprofitable and reliant on equity raises.
- The article warns that without a swift, profitability‑focused turnaround, continued dilution and further share pressure are likely.