Followers | 386 |
Posts | 9065 |
Boards Moderated | 3 |
Alias Born | 03/04/2006 |
Wednesday, April 23, 2014 7:30:37 PM
I strongly suggest you email the company and specifically ask them to confirm 125 mil shares of the 250mil float are not yet registered.
Then ask who owns them?
Then ask what benefit are they to you an MCIG shareholder and the future MCIG share holders
Then ask why not retire those 125 mil shares?
Then ask will the owner of those share get 125 mil VCIG shares
Then ask why?
Then ask how do I the MCIG future VCIG shareholder benefit from that
The ask how does the company ever hope to meet the $4 per share goal for Nasdaq uplisting with a OS of 270mil approx which would mean 1.2 bil market cap.
Then ask why not reduce the OS by retiring the 125 mil unregistered shares making the OS 145 approx and locking the float at 125mil
Then ask isn't the long term goal of reaching the uplisting target far more important than short term goal of rewarding a CEO from lifetech that failed
If they can't answer any of these questions I'd say this could turn into a short term trade real soon and never recover.
Chart pps went up and tested the former support as resistance and that's what it became.
The rest of the ecig vapes are getting hammered hard vape got raped today -57%
Here is a candle glance chart of the sector
http://stockcharts.com/freecharts/gallery.html?ammg
Maybe MCIG will be able to ride this out in a trading range from .50 to .60, if lucky. Otherwise the support levels below .50 mentioned before approx .40 .33-.35, .27 and 200ma now.24 then .17-.19.
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