With a stock like this there is really no models that work. It is basically a lotto ticket, high risk. But to be honest I never thought it would trade with a bid unless something was happening.
What I did when I bought a tiny amount was to look at the market cap. When it was pumped up with less sales than it had recently it was 160 million. That market cap fell to 250,000 or so. I initially figured a market cap of 10-20 million on a restructuring would not be out of whack. But of course they kept issuing shares.
Initially best case scenario was close to a 100 bagger from .0001 to .01. But now with the extra shares, more like .005. However we do not know much info and chances of failure are really high.
But I have seen worse companies with like zero sales and no real product shoot big multiples.
Right now I guess the good signs are that for some reason it is trading with a bid. And Bates convinced North Vernon to give them more time and he did say he was trying to restructure and go in a new direction. So that is more than we had when there was no bid an no news.
Id say within 5-6 months we should know something.
The good thing is if the bid continues you can at least get out at what you got in at.
Everything I post is my own opinion and people should always do their own research and due diligence on any company they are looking at
