Great visionary

I think the company's outgoing CEO should be revered as a great visionary.  According to today's press release, the company spent $665K in the September quarter on "Class-actions litigation and SEC matter." That was months ahead of the "SEC matter" subpoena received on November 8 (per results call today).  That is what I call a foresight!

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The Division of Enforcement of the U.S. Securities & Exchange Commission (the “SEC”) has notified the Company that it is conducting an investigation to determine whether there had been any violations of the federal securities laws. The Company has been providing documents and information and has now received a subpoena from the SEC requesting that the Company provide documents and other information relating to the development cost of the Company’s Nanox.ARC prototypes, as well as the Company’s estimate for the cost of assembling the final Nanox.ARC product at scale.

But somehow the company forgot to tell us about all that in its November 11 press release.  The stock has been dropping on "no news" since that November 8 date, of course.