Sonendo Inc (PK) (SONX)

Anyone still holding this? Why did the price fall so badly?

Sonendo, Inc. on Path to Breakeven in the Second Half of 2026

LAGUNA HILLS, Calif.--(BUSINESS WIRE)-- Sonendo, Inc. (“Sonendo” or the “Company”), a leading dental technology company and developer of the GentleWave® System, today reported select preliminary financial results for the year ended December 31, 2025 and other business updates.

Select Financial Updates1

Generated $28.6 million of total revenue for the full year of 2025, including $23.4 million, or approximately 82%, from recurring sales of procedure-related consumables and services;
Reported an increase in gross margin to 41.9% for the full year of 2025, up 460 basis points compared to 2024;
Significantly reduced loss from operations to $13.5 million in 2025 from loss of $29.4 million in 2024, and adjusted EBITDA2 loss to $10.4 million in 2025 from loss of $23.0 million in 2024, driven by improved operational efficiencies;
Significantly reduced free cash flow burn2 to $10.9 million in 2025 from $24.8 million in 2024; and
The Company expects to achieve positive free cash flow2 and positive adjusted EBITDA2 in the second half of 2026.

On November 17, 2025, Sonendo entered into a strategic collaboration with a European-based dental company and secured exclusive rights to sell high-quality products in North America. This collaboration enables Sonendo to offer a comprehensive suite of endodontic consumable products, complementing its existing portfolio solutions and enhancing its ability to meet the full range of customer needs. The Company expects this strategic collaboration to bring significant cost savings to GentleWave customers, drive more demand for the GentleWave Procedure, and support Sonendo’s revenue and gross margin growth.

As the first step of this strategic collaboration, Sonendo launched FlowLogic™ endodontic files in the first quarter of 2026. Sonendo expects FlowLogic files to compete with the best performing endodontic files in the industry, while offered to GentleWave customers at a significant discount.

“I'm pleased to report continued strong execution on our path to profitability. Through disciplined operational improvements, we significantly reduced operating expenses while driving greater efficiencies across the organization. This contributed to a meaningful improvement in our adjusted EBITDA performance. At the same time, we successfully maintained our revenue base, demonstrating the resilience of our core business and the value our GentleWave Procedure continues to deliver to endodontists and their patients. More than 1.9 million patients have been treated with the GentleWave System so far,” said Bjarne Bergheim, President and Chief Executive Officer of Sonendo. “We further strengthened our portfolio by adding high-quality ancillary products. This strategic addition enables us to provide a more complete suite of endodontic consumables, which we believe will substantially lower the cost per root canal procedure for our customers—enhancing their practice economics while expanding our addressable market and supporting long-term revenue growth.”

About Sonendo

Sonendo is a commercial-stage medical technology Company focused on saving teeth from tooth decay, the most prevalent chronic disease globally. Sonendo develops and manufactures the GentleWave System, an innovative technology platform designed to treat tooth decay by cleaning and disinfecting the microscopic spaces within teeth without the need to remove tooth structure. The system utilizes a proprietary mechanism of action, which combines procedure fluid optimization, broad-spectrum acoustic energy and advanced fluid dynamics, to debride and disinfect deep regions of the complex root canal system in a less invasive procedure that preserves tooth structure. The clinical benefits of the GentleWave System when compared to conventional methods of root canal therapy include improved clinical outcomes, such as superior cleaning that is independent of root canal complexity and tooth anatomy, high and rapid rates of healing and minimal to no post-operative pain. In addition, the GentleWave System can improve the workflow and economics of dental practices.

For more information about Sonendo and the GentleWave System, please visit www.sonendo.com. To find a GentleWave doctor in your area, please visit www.gentlewave.com.



1 The 2025 financial information presented in this release has not been audited.
2 See additional information included in the Company’s Form 8-K filed with the Securities and Exchange Commission on November 12, 2024 for additional information about the Company’s use of these non-GAAP financial measures.

Forward-Looking Statements

This news release includes forward-looking statements (statements which are not historical facts) within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to: the Company’s expectations regarding its future financial performance, including its ability to breakeven in the second half of 2026; its expectations regarding its strategic collaboration with the European-based dental company; and the ability of FlowLogic files to compete with other endodontic files. In addition, the select preliminary financial results for the year ended December 31, 2025 in this news release are preliminary, are not a comprehensive statement of financial results for the period and are provided prior to completion of all internal and external review and audit procedures and therefore are subject to adjustment. You are cautioned that such statements are not guarantees of future performance and that our actual results may differ materially from those set forth in the forward-looking statements. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions; speak only as of the date they are made; and, as a result, are subject to risks and uncertainties that may change at any time. Factors that could cause the Company’s actual results to differ materially from these forward-looking statements include, but are not limited to: the Company’s need to raise capital and its ability to continue as a going concern; the level of adoption and demand for the Company’s product offerings; the Company’s ability to execute and fulfill the potential of its strategic collaboration with the European-based dental company; changes to the Company’s financial results for the full-year ended December 31, 2025 due to the completion of financial closing procedures and final adjustments; and other risks and uncertainties as are described in detail in the “Risk Factors” section of the Company’s Annual Report on Form 10-K that was filed with the Securities and Exchange Commission on March 26, 2025 and available at www.sec.gov. The Company undertakes no obligation to publicly update or revise forward-looking statements to reflect subsequent developments, events, or circumstances, except as may be required under applicable securities laws. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

https://cts.businesswire.com/ct/CT?id=bwnews&sty=20260316143036r1&sid=acqr8&distro=nx&lang=en

View source version on businesswire.com: https://www.businesswire.com/news/home/20260316143036/en/

Investor Contact:
IR@Sonendo.com

Source: Sonendo

© Copyright Business Wire 2026

I hope everyone on this board experiences an excruciating death and transition to the afterlife. Fuck. Them. All.

https://sonendo.com/sites/default/files/presentations/SON_August2025_Corporate_Presentation.pdf

Hoping they have massive diarrhea tight after Xmas dinner

I hope the ones that are responsible for the downfall of this company, while manipulating its' investors, has the worst Christmas imaginable.

We go from fixing teeth to crypto?
lol 

Carolyn beaver getting frisky today
Maybe she wants to send it to $20 lol

Id take half of my money back at this point

Need to send it back to $15 so I can get out :(

Back to Pink Limited today!

Yay we are up today lol
Go AFFU!!??

Ok no dramas. Won't nag, been there done that.

Good luck Scottie.

my average after split is $7.50 LMAO
couldn't even buy if i wanted to because of being on the EM

Are you ready yet already Scotstir.
Well on my way to averaging down, it's going a lot higher. 🫢

yes the went dark and took out their investors relations contact so nobody to enquirer with to ask questions

Deception and lies that directly impacted lives, beyond their understanding Im sure. I hope everyone involved experiences an excruciating transition to the afterlife when their time comes. Fuck 'em all.

They probably all went to Epstein island with all the other satanic rich guys lol

these guys ought to be arrested and thrown in jail

It's corrupt as fuk I don't know 

How can this go from $1.11 to 01?

Now in the expert market
What a complete joke

I'm buying AFFU now Rich and chart are buying 
I'd say we got a good chance to make some money back. 
Sonendo and that beaver chick are rat poison.

Sonendo, Inc. Reports First Quarter 2025 Financial Results and Issues Financial Guidance

LAGUNA HILLS, Calif.--(BUSINESS WIRE)-- Sonendo, Inc. (“Sonendo” or the “Company”) (OTC Pink: SONX), a leading dental technology company and developer of the GentleWave® System, today reported select financial results for the first quarter ended March 31, 2025 and issued short and long-term financial guidance.

Recent Highlights

Generated $7.4 million of total revenue for the first quarter of 2025, representing 5% growth compared to the prior year period;
Drove a substantial increase in gross margin to 44% for the first quarter of 2025, up 1600 basis points compared to the 28% gross margin for the prior year period;
Reported a 48% year-over-year improvement in Adjusted EBITDA loss to $3.9 million for the first quarter of 2025;
Significantly reduced free cash flow burn to $4.5 million, a 58% reduction compared to the prior year period;
Recently completed a $5.0 million private placement of its common stock, which included new and existing investors;
Amended its credit facility to defer principal amortization payments until at least September 2025, and potentially until March 31, 2026.

“We are pleased that our lender and the new and existing investors who participated in the private placement have recognized the meaningful success we have achieved in restructuring the business and increasing revenue while significantly reducing operating expenses and free cash flow burn, as demonstrated in our first quarter 2025 financial and operational results,” said Bjarne Bergheim, President and Chief Executive Officer of Sonendo. “We have significantly improved the liquidity profile of the Company, and we expect to deliver additional gross margin expansion and further reductions in operating losses and free cash flow burn in 2025. We remain steadfastly committed to operational excellence and to position Sonendo for robust, long-term and profitable growth.”

As of March 31, 2025, the Company’s cash, cash equivalents and short-term investments totaled $7.2 million, which does not include the $4.7 million in estimated net proceeds the Company received in the private placement, and there was $14.2 million of principal outstanding under its credit facility.

Financial Guidance

The Company is providing the following short and long-term financial guidance, which reflects management’s latest expectations.




2025


Mid-Term (2027)


Long-Term (2029)

Revenue


$31-$32 million





9% CAGR (2024-2029)

GAAP Gross Margin


44-46%


57-59%


65%+

Adjusted EBITDA(1)


$(11)-$(14) million


(8)-(10)% of revenue


+8-10% of revenue(2)

Free Cash Flow(1)


$(12)-$(15) million





Positive


(1)


See additional information included in the Company’s Form 8-K filed with the SEC on November 12, 2024 for additional information about the Company’s use of these non-GAAP financial measures.


(2)


The Company expects to generate positive adjusted EBITDA starting in FY 2028.

About Sonendo

Sonendo is a commercial-stage medical technology Company focused on saving teeth from tooth decay, the most prevalent chronic disease globally. Sonendo develops and manufactures the GentleWave® System, an innovative technology platform designed to treat tooth decay by cleaning and disinfecting the microscopic spaces within teeth without the need to remove tooth structure. The system utilizes a proprietary mechanism of action, which combines procedure fluid optimization, broad-spectrum acoustic energy and advanced fluid dynamics, to debride and disinfect deep regions of the complex root canal system in a less invasive procedure that preserves tooth structure. The clinical benefits of the GentleWave System when compared to conventional methods of root canal therapy include improved clinical outcomes, such as superior cleaning that is independent of root canal complexity and tooth anatomy, high and rapid rates of healing and minimal to no post-operative pain. In addition, the GentleWave System can improve the workflow and economics of dental practices.

For more information about Sonendo and the GentleWave System, please visit www.sonendo.com. To find a GentleWave doctor in your area, please visit www.gentlewave.com.

Forward Looking Statements

This news release includes forward-looking statements (statements which are not historical facts) within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, the Company’s expectations regarding short- and long-term financial performance, including (among other things) GAAP gross margin, adjusted EBITDA and free cash flow; the Company’s expectations to deliver additional gross margin expansion and further reduce operating losses and free cash flow burn in 2025; and the Company’s ability to achieve robust, long-term and profitable growth. You are cautioned that such statements are not guarantees of future performance and that our actual results may differ materially from those set forth in the forward-looking statements. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions; speak only as of the date they are made; and, as a result, are subject to risks and uncertainties that may change at any time. Factors that could cause the Company’s actual results to differ materially from these forward-looking statements are described in detail in the “Risk Factors” section of the Company’s Annual Report on Form 10-K that was filed with the Securities and Exchange Commission on March 26, 2025. Such filings are available at www.sec.gov. The Company undertakes no obligation to publicly update or revise forward-looking statements to reflect subsequent developments, events, or circumstances, except as may be required under applicable securities laws. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

https://cts.businesswire.com/ct/CT?id=bwnews&sty=20250604534828r1&sid=acqr8&distro=nx&lang=en

View source version on businesswire.com: https://www.businesswire.com/news/home/20250604534828/en/

Investor Contact:
IR@Sonendo.com

Source: Sonendo
https://www.otcmarkets.com/stock/SONX/news/Sonendo-Inc-Reports-First-Quarter-2025-Financial-Results-and-Issues-Financial-Guidance?id=481822
© Copyright Business Wire 2025

Hmmm Bjarne appears to have lost his way with a second R/S. Here's AI's opinion.

"Sonendo just did a Reverse Split. Is this good for liquidity or is this bad for shareholders please?"

A reverse split like Sonendo’s recent 1-for-200 move generally has mixed effects for shareholders and liquidity.

For liquidity:

In the short term, a reverse split can sometimes increase liquidity by raising the share price, making the stock more attractive to institutional investors who avoid penny stocks.

However, over the medium and long term, reverse splits often reduce liquidity because there are fewer shares available to trade, which can increase bid-ask spreads and transaction costs.

For shareholders:

Reverse splits are often viewed negatively by the market, as they can signal financial distress or an attempt to avoid delisting due to a low share price.

While the higher price per share may improve the company’s image, the total value of each shareholder’s investment remains the same, but with fewer shares. This can harm investor confidence and may result in some shareholders selling their positions.

In summary:

Short-term liquidity may improve, but longer-term liquidity and investor sentiment often suffer after a reverse split.

The move is generally seen as a negative signal for shareholders unless it is part of a broader, successful turnaround strategy.

wtf lol

After the split ss was 428,514
Now it’s 4,148,514

Are they dumping shares now?

Yeah it’s all a mystery for now. They supposedly did a RS to prevent from going pink but they ended up on the pink sheets anyway and filed a 15-12g form which releases them of sec reporting. 😳
Only good thing is the os structure which is tiny, but I’m sure an offering is in the future but hopefully it’s after the price has risen with some good news.
428,514 OS

Bon chance! Mon ami

To evaluate whether a private placement financing is legitimate or predatory, investors should assess transparency, terms, and alignment of interests. Here’s how to distinguish between beneficial and harmful offerings:

Red Flags of Predatory Private Placements
Lack of Transparency

Missing or vague financial statements, undisclosed fees, or refusal to provide an audited balance sheet or income statement.

No clear explanation of how funds will be used or overly broad claims (e.g., "general corporate purposes").

Unrealistic Promises

Guaranteed returns, "risk-free" claims, or pressure to invest quickly without time for due diligence.

Overly complex structures (e.g., toxic convertible notes with aggressive conversion terms that dilute existing shareholders).

Regulatory Issues

Issuers or promoters with disciplinary histories (e.g., barred from securities industries).

Use of Regulation D exemptions without proper accreditation checks or misuse of exemptions to bypass investor protections.

Misaligned Incentives

Excessive upfront fees or compensation tied to fundraising success rather than long-term performance.

Aggressive sales tactics targeting financially vulnerable investors.

Positive Indicators of Legitimate Offerings
Comprehensive Documentation

A Private Placement Memorandum (PPM) detailing business operations, risks, financials, and use of proceeds.

Audited financial statements and verifiable track records of management.

Investor Protections

Clear alignment with accredited investor criteria (e.g., income or asset thresholds).

Reasonable valuation metrics and terms that avoid excessive dilution (e.g., fixed conversion prices for equity-linked securities).

Regulatory Compliance

Proper SEC filings (e.g., Form D) and adherence to exchange rules for public companies conducting private placements.

Transparent communication about risks, including market volatility and liquidity constraints.

Steps for Investor Due Diligence
Verify Credentials: Check the issuer’s regulatory history using tools like FINRA’s BrokerCheck or the BCSC’s InvestRight.org.

Scrutinize Financials: Demand audited statements and cross-reference claims with independent sources.

Understand Terms: Avoid deals with hidden fees, short repayment windows, or punitive conversion mechanisms.

Consult Advisors: Engage legal or financial experts to review the PPM and term sheets.

By prioritizing transparency, regulatory compliance, and investor alignment, stakeholders can mitigate risks in private placements

If this is a PIPE to be on the safe side, frankly I'd be leery who this private investor is. It's also directors and officers within the company investing. Including new investors but there's a main new investor for this big a restructuring IMHO.

Brookline Capital Markets, as a division of Arcadia Securities LLC, provides financial instruments and services such as:

Pre-IPO financings

IPOs

Secondary offerings

PIPEs (Private Investments in Public Equity)

Trade facilitation for private equities

Capital markets and strategic advisory services

If SONX is collaborating with Brookline, it would typically be for these financial services and capital-raising MECHANISMS.

Arcadia Securities LLC is a New York-based, full-service broker-dealer founded in 1998. The firm provides investment banking, capital markets, and financial advisory services to corporate clients, family offices, high net worth individuals, and institutions. Arcadia is a registered broker-dealer with the U.S. Securities and Exchange Commission (SEC) and is a member of the Financial Industry Regulatory Authority (FINRA). Its principal office is located at 1370 Avenue of the Americas, 29th Floor, New York, NY 10019.

The company offers services including investment banking, private placements, financial advisory, and securities transactions (both agency and principal). Thomas P. Kikis is the President and Managing Member. Arcadia Securities operates several branded divisions, such as Brookline Capital Markets and B. Dyson Capital Advisors.

Still here waiting getting ready to ave down lol. Hope all is well Rich

Well there is always a silver lining Scottie
Let's hope the company can elevate prospects this time!

Are you excited yet?
and we expect to deliver additional gross margin expansion and further reductions in operating losses and free cash flow burn in 2025.

Sonendo, Inc. Announces $5.0 Million Private Placement

LAGUNA HILLS, Calif.--(BUSINESS WIRE)-- Sonendo, Inc. (OTC PINK: SONX) (“Sonendo” or the “Company”), a leading dental technology company and developer of the GentleWave® System, today announced a private placement of common stock, resulting in gross proceeds of $5.0 million (the “Private Placement”). New and existing investors, including certain directors and officers of the Company, participated in the financing.

Sonendo intends to use the proceeds from the financing to expand commercial programs to drive revenue growth, continue executing ongoing business restructuring activities to further reduce operating expenses and accelerate the path to positive adjusted EBITDA and operating cash flow, to retain senior leadership and key employees and for working capital as well as other general corporate purposes.

The Company entered into securities purchase agreements with investors to sell an aggregate of 4,000,000 shares of the Company’s common stock, par value $0.001 at a purchase price per share of $1.25, which reflects an approximately 10% premium to the most recent closing price.

Brookline Capital Markets, a division of Arcadia Securities, LLC, served as the sole placement agent for the Private Placement.

The securities to be sold in the Private Placement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws, and accordingly may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state securities laws.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of the securities being offered in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.

Additionally, on March 31, 2025, Sonendo entered into Amendment No. 5 (the “Amendment No. 5”), and on April 25, 2025, Sonendo entered into Amendment No. 6 (the “Amendment No. 6”, together with Amendment No. 5, the “Amendments”) to its Amended and Restated Credit Agreement and Guaranty, dated as of August 23, 2021, by and among the Company, the subsidiary guarantor named therein, the lenders party thereto and Perceptive Credit Holdings III, LP, as amended (the “Credit Agreement”). The Amendments amended the Credit Agreement, to, among other things, (i) reduce the minimum gross proceed requirements for certain equity financings and capital-raising transactions condition and (ii) subject to the consummation of the transactions in clause (i) (A) waive amortization payments originally due on February 28, 2025 and March 31, 2025 and (B) defer amortization payments due during the period beginning on April 30, 2025 and ending immediately prior to March 31, 2026.

“We are pleased that our lender and these new and existing investors participating in the private placement have recognized the meaningful success we have achieved in restructuring the business and stabilizing revenue while significantly reducing operating expenses and free cash flow burn, as demonstrated in our 2024 financial and operational results,” said Bjarne Bergheim, President and Chief Executive Officer of Sonendo. “We have significantly improved the liquidity profile of the Company via the private placement and the recent amendments to our credit facility, and we expect to deliver additional gross margin expansion and further reductions in operating losses and free cash flow burn in 2025. We remain steadfastly committed to operational excellence and to position Sonendo for robust, long-term and profitable growth.”

About Sonendo

Sonendo is a commercial-stage medical technology Company focused on saving teeth from tooth decay, the most prevalent chronic disease globally. Sonendo develops and manufactures the GentleWave® System, an innovative technology platform designed to treat tooth decay by cleaning and disinfecting the microscopic spaces within teeth without the need to remove tooth structure. The system utilizes a proprietary mechanism of action, which combines procedure fluid optimization, broad-spectrum acoustic energy and advanced fluid dynamics, to debride and disinfect deep regions of the complex root canal system in a less invasive procedure that preserves tooth structure. The clinical benefits of the GentleWave System when compared to conventional methods of root canal therapy include improved clinical outcomes, such as superior cleaning that is independent of root canal complexity and tooth anatomy, high and rapid rates of healing and minimal to no post-operative pain. In addition, the GentleWave System can improve the workflow and economics of dental practices.

For more information about Sonendo and the GentleWave System, please visit www.sonendo.com. To find a GentleWave doctor in your area, please visit www.gentlewave.com.

Forward Looking Statements

This press release includes forward-looking statements (statements which are not historical facts) within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, express or implied forward-looking statements relating to the Company’s anticipated business and financial performance on an on-going basis. You are cautioned that such statements are not guarantees of future performance and that our actual results may differ materially from those set forth in the forward-looking statements. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions; speak only as of the date they are made; and, as a result, are subject to risks and uncertainties that may change at any time. Factors that could cause the Company’s actual results to differ materially from these forward-looking statements are described in detail in our registration statements, reports and other filings with the Securities and Exchange Commission, including the “Risk Factors” set forth in our Annual Report on Form 10-K. Such filings are available on our website or at www.sec.gov. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent developments, events, or circumstances, except as may be required under applicable securities laws. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

https://cts.businesswire.com/ct/CT?id=bwnews&sty=20250501156462r1&sid=acqr8&distro=nx&lang=en

View source version on businesswire.com: https://www.businesswire.com/news/home/20250501156462/en/

Investor Contact:
ir@sonendo.com

Source: Sonendo

© Copyright Business Wire 2025
https://www.otcmarkets.com/stock/SONX/news/Sonendo-Inc-Announces-50-Million-Private-Placement?id=475777

No telling what direction this goes

Ya that split hurtI don't want to add here anymore.The company sold their souls to the devil.

We need a miracle

We need doge sonendo;)

I agree

Highway robbery. F*ck the CEO and this company.

Shady shit went on here 
Hope doge looks in SONX.
BASL went bankrupt and sold off to the Koreans, beaver gets our BOD.

Things are pointing to them going dark now on the Expert market imo
What a financial disaster holding this pos ol

Same! My average is $7.50 post split.
Not adding anymore now that they don’t have to report and went pink

I feel like such a moron for investing, and wish I would have never discovered the existence of this company. I feel bad for anyone that put money into them, no matter the amount. I know this will haunt and hold me back for years to come. I wish everyone the best.

They don’t have to report. They split to avoid pink sheets and are now a pink sheet WTF

FUCK RETAIL IS THIS CEO’S MO

https://fintel.io/doc/sec-sonendo-inc-1407973-1512g-2025-february-27-20146-8633?utm_source=twitter.com&utm_medium=referral&utm_campaign=filing

I guess we are fucked

15-12G" refers to a form filed with the Securities and Exchange Commission (SEC) called "Form 15-12G," which is used by a company to certify that it is terminating its registration of a class of securities under Section 12(g) of the Securities Exchange Act, essentially meaning they are "going dark" and no longer need to file regular reports with the SEC because they have a low number of shareholders and meet specific asset thresholds; it signifies the company is deregistering its securities and is no longer required to publicly disclose financial information

What's going on today?

It’s thin, only 427,000 shares outstanding
I think most that wanted out sold for a tax loss.
It opened post split at $5 I think, it’s just working its way back.
They have reduced spending and working for a break even point. Even with that I believe he needs an acquisition or partnership to garner interest and support to think about getting back to the big board again.
At some point he will do an offering hopefully it’s after big news

You guys are in far closer touch than I am

But something's created a gap up. Any theories, clues, assertions?