Numerous Red Flags And Rats At SenesTech Inc (SNES)

The author of this article has a short position in the company.

Q: What would you do if your company had:

• accumulated losses of $58 million,
• no commercially available product,
• a “going concern” from its auditors,
• largely run out of cash,
• was expected to incur significant losses for the foreseeable future,
• no strategic investors,
• questionable strategic partnerships,
• insiders who want to sell 15% of their personal stock for proceeds of $2 million
• faced significant regulatory and other hurdles, and
• a weak (but well paid) Board of Directors?

SenesTech

A: Take advantage of the JOBS Act and the hot equity markets by doing an IPO that gives you an equity market cap of $80 million and a valuation 220% higher than...