Joseph P. Doxey
CEO of Pure H2O Bio Technologies, a perennial hurricane play, it has a patent application pending on a water purification system.
It usually goes up 10-fold in late summer. Except last summer, when it was trading at .0002 and it began its run. When it got to .0006, several hundred million shares suddenly (in less than a minute) went through at the bid and dropped it to .0003.
"WTF?" Everyone on the board said.
"Oh, don't worry, some big holder just hit their profit mark, up we move."
Next day, again, hundreds of millions of shares. Down to .0001 X .0002. Then more shares and we lost the bid and still more shares kept going through. All at the bid (or without the bid).
And there we sat with no bid for a month. Small rally to .0002 and suddenly hundreds of millions of shares at the bid. Back to nothing for a month.
Then 10,000:1 reverse split. By the time our shares cleared the brokers, it had lost half its value again and then the slow march south.
Today, 4 months later:
Outstanding Shares: 850,000,000 as of 2007-03-15,
Authorized Shares: 50,000,000,000 as of 2007-03-15
Last trade: .0007
My portfolio: down 99.65% ($0.85)
The patent is still pending.
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VIVA EL MICROCAPITALISMO!!!
