TheStreetSweeper issues a negative report on Skyline Medical (SKLN)
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TheStreetSweeper issues a negative report on Skyline Medical (NASDAQ: SKLN):
1. Skyline is low-cash, high-cash-burn and has sold only one unit since 2015.
2. It funds operations solely on a loan, convertible debt and stock offerings.
3. The company is under threat of being delisted from Nasdaq.
4. It recently filed a $20 million offering. Shares may be sold at any moment, representing a looming dilution event.
5. Skyline depends on reverse stock splits and professional stock promoters to boost the stock price.
6. The company repeatedly touts an unfortunate Polish-American partner; the market falls for it.
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