Are they still renting that expensive office? $3 million (more then 5% of their market cap) on rent is a lot for a company hemorrhaging in cash an value. Most of this can be replaced by tele-presence robots and $10 webcams which the staff should be able to pay for with their transport savings. If managed properly the saved time and hassle would improve performance (as it has in silicon valley). If they are on a lease can they sublease out (maybe to their funds businesses to keep better tabs on them). The significant staff reduction means their might be some significant office space left empty.
BLA Price at posting:
47.5¢ Sentiment: Buy Disclosure: Held
