Bid is paper THIN to low .002's again this AM
0.0029 / 0.0035 (20000 x 627001)
FREE FALLING - not just a Tom Petty tune, LOL !!!
That's BMAK and CDEL parked hard on the .0035 Ask and BMAK is waaaay way DOWN at .0015 with their usual 10K share "support block" now. Meaning the bottom of this thing is below .002 looks like to me.
Below that 10K block at .0029 it's ALL .002 blocks from there down. This thing is going NOWHERE IMO (well except likely DOWN IMO). This 1000:1 massive R/S looks like the typical disaster these commonly result in, IMO.
The stock now has a new all, all, all TIME LOW of .0026 put in place yesterday. This stock has NEVER, EVER made a new low that it later didn't test and then break for newer all, all TIME LOWS. It wasn't that long ago that .0063 was the all time low (LOL, imagine that- the good ole days of one trip SUB PENNY to only .0063 !), then it became .004 for the lows and now it's .0026, quite an amazing plunge into oblivion.
LOWER LOWS and LOWER HIGHS- it's never made it back above ONE CENT for all intents and purposes, since breaching it for nearly all of 2015, post the signing of the Magna deals in late 2014.
This looks bottomless to me- no way to say that it's ever going to make a bottom or stabilize that I can see? Just too many 10's and even 100's of MILLIONS of mass dilution shares from convertible debt lenders, from paying common bills in common shares (see any 10-Q or 10-K) - just too many shares pouring onto the Ask/Sell-side unending, non-stop essentially. A R/S isn't gonna change that reality one wit. Same selling/dumping will still occur- in the SAME RATIOS, just a different share count, resulting in no changes that I can see.
Just from the last 10-Q, look at the massive number of common dilution shares dumped out for sale for all sorts of various reasons- it's stunning to me. And NO, a massive R/S doesn't change those shares all being out there- their ratio to the total share count stays 100% THE SAME after the 1000:1 split thingy, so common in these massively collapsing penny plays.
Last filed 10-Q, PAGES 20/21:
"NOTE 10 — STOCKHOLDERS’ EQUITY
During the six months ended June 30, 2015, the Company issued an aggregate of 11,652,719 shares of its common stock in the amount of $100,132 for the settlement of outstanding accounts payable and accrued expenses. In connection with the issuance of the shares the Company recognized a gain on settlement of accounts payable and accrued expenses in the amount of $78,528 (see Note 5).
During the six months ended June 30, 2015, the Company issued 6,650,000 shares of common stock in settlement of litigation. In connection with the issuances, the Company recognized a loss in the amount of $59,850, which is included in the marketing, general and administration expense in the Statement of Operations (see Note 12).
On April 3, 2015, the Company issued 1,363,031 shares of its common stock in lieu of payment in cash of accrued and unpaid interest of $12,635 due April 1, 2015 per the forbearance agreement on Northstar note (See Note 8).
During the six months ended June 30, 2015, the Company issued an aggregate of 93,803,679 shares of its common stock for the conversion of $388,258 of notes payable and related accrued interest. Upon conversion of the notes, the Company recorded an adjustment to the derivative liability in the amount of $411,772 (see Note 13).
During the six months ended June 30, 2015, the Company issued an aggregate of 76,612,184 shares of common stock in exchange for $472,675 under the stock purchase agreement with Magna Equities II, LLC (see Note 6), and issued an aggregate of 7,851,968 shares of common stock in exchange for $61,270. In connection with the stock sale, the Company issued an aggregate of 1,443,656 warrants to purchase the Company’s common stock (see Note 11).
During the six months ended June 30, 2015, the Company issued an aggregate of 24,353,285 shares of its common stock in settlement of accumulative outstanding accounts payable due to Guarantors of the Company of $961,125. In connection with the issuance, the Company incurred a $791,024 gain in settlement of debt."
THAT, THAT was just for the first 6 months of 2015, LOL !! Blocks adding up to what, over 200 MILLION dilution shares- something close to that?
And NO, changing the name ain't gonna change that harsh reality either, LOL !! Just massive, massive common share dilution - that's all I see here. What else is there really??? I sure can't see it? The dilution shares pouring on to the Ask/sell-side just trumps and overwhelms all else IMO.
