I think I'm going to quit playing with fire for now.Here's my thoughts on what is currently happening at Odyssey.
Management is certainly Inept,clumsy,amateur,blundering,unskillfull,unsuccesful,ineffectual,......go ahead and pick whichever you like ..all of the above when it comes to keeping a fire burning under the stock and giving shareholders and the market at large something to crow about in value enough to keep the share price moving forward and not backward.
I would certainly hate to be on this stock if it continues to weaken to .50 cents or even less,,,,,now I can't say I see that happening but I never saw a drop below a buck happening either.
So ,rather than take the chance that this falls further I've decided I will wait until they start showing real promise and not pseudo value propositions.The "we are GOING to do this or that" just isn't flying anymore because most people realize what they say doesn't necessarily come to fruition.They have completely lost investor confidence and are plagued by traders,,,,,,short and long and NOT true investors...I.E. WHY bother!
The only investors here in my opinion are the ones who bought much higher and are praying that the stock recovers.I've already taken the loss for this year and frankly not concerned about getting it back,at least not from OMEX.Too scary of a proposition for me at this juncture.
I want to see real,concrete figures and action taken.Christ on a crutch they have been warned by me and others what will happen to this stock if they don't go to work this fall/winter on something profitable.NOT testing or playing with new equipment offshore of the Carolinas ,,,,I'm talking about a very real and promising venture that will guarantee income.
Oceanica is a pipe dream in my opinion and until the market sees something Definitive on how they will extract phosphate without crushing the share price because of dilution or intereference by eco groups or the Mexiconos....... I don't think anything will move the share price steadily upward that has this kind of news behind it.If it does it will be short lived on a good ol pump press release and then back down it will go when people realize it is going to cost Omex a fortune to get to the point of extraction and will take years for that to come to fruition if it ever does.
As much as I like what they do,,,, things are looking very bleak,even with sales of the SSCA coins and/or a sale of some of Oceanica.
Anyway......I've decided to just sit on the sidelines and trade other stocks until I see something really positive and frankly I would much rather pay more for the stock knowing that they have a future than pay less (thinking it's a good deal) only to find that the price weakens further and the stock eventually collapses under the very real possibility of Bankruptcy.
Good luck to all you believers...I mean that!!!
It's getting to a point for me anyway,that even trading it has become a hazard.Fear of the unknown...lack of Mgmt. direction .....etc.etc. makes this just too risky in my humble opinion.
If you want to know what I am looking at right now ......check out IO ION Geophysical ..still in the ocean LOL! I think the stock is oversold on that one ...as always do your own DD because I am wrong more times than not!!! I am certainly not pumping it I could care less what people do!
I simply keep having visions of LOST IN SPACE robot saying DANGER WILL DANGER!!!
I'm comfortable with my decision even if I miss a big move up here
One more thing ....if they let this stay under 1.00 and get the "notice" for the minimum bid price in the future here ...just getting that notice is going to create a drop in share price.You have to ask yourself how many people will start getting out ahead of that news if they don't do something to repair the share price.It angers me that they are so arrogant to sit on their butts and not do anything about the share price NOW...or rather ALREADY.....My only conclusions are one of two.
1.They know they have news coming that will move the stock higher and keep them from getting the notice
2. They have nothing and shareholders are screwed.
Take your pick ...it's either one or the other
I can't take that chance of #2 and it angers me if it is #1 that they haven't done anything already which in my opinion again shows their abilities as good mgmt., are ineffectual or inept!
COME OUT OF THE WATER!!!
My Posts are my opinion protected by my first amendment right to free speech
You don't drown by falling in the water; you drown by staying there.
