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Thursday, July 21, 2016 3:46:16 PM
The Bid just hit .015, aka 1.25 CENTS which is a new all, all, all time LOW AGAIN. Every time that Bid drops, the stock price typically follows in short order. In addition, some of the convertible debt pricing formulas (SEE 10-Q and 10-K's for Magna, Fourth Man and Daniel James convertible debt specific "deal" wording)- some of them actually are calculated (if memory serves me correctly, on the LOW CLOSING BID or LOWEST PRICE OF THE DAY, something to that effect. Thus making a new low Bid, matters)
0.0125 / 0.015 (105000 x 16600)
Right off the OTC market place site itself- over 100K shares now parked on that Bid in 1st position, and at a NEW, ALL, ALL, ALL TIME LOW of 1.25 CENTS (previous, a week or so ago was 1.30 CENTS. It's now dropped to 1.25 CENTS or a split corrected .0000125 now, when adjusted/corrected for the Nov 2015, massive 1000 to 1 reverse split)
Looks to be going lower here then IMO. The MM's, market makers- I doubt they're gonna leave a 100K shares just hanging out there on that ole Bid, and not bring it down and clean that share block out, likely sooner than later? Not if the past 6 month(s) plus chart and trend is any indicator. Really the past several YEARS of downtrend and dilution (convertible debt) trading pattern, LOL !! Like reading an open book it's so obvious and repeated pretty much weekly now- same trading pattern(s) and making new LOWS almost weekly, with LOWER LOWS and LOWER HIGHS the only "normal" that I can see.
Looks to me thus be going lower here, likely reaching new ALL, ALL, ALL TIME LOWS, soon then IMO. The day's Falling Ask and falling Bid make it pretty obvious to me.
Posts are only my amateur opinions, personal views and thoughts. They are not any type of investment advice. Do one's own due diligence.
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