Correct.
Think about who would toss up that many shares when the bid is so small.
Its not cd note holders.
Its naked short sellers.
And they are attempting to cover on the bid (but hiding their orders). U may see some "interesting" T trades after the bell today due to this.
In my history trading for quite some time, the only time I've ever seen an Ask size intentionally tossed up like this, was when bad news was known in advance such as a reverse stock split and everybody was trying to get short ahead of it. In this case However, I truly do not believe one will be implemented because I was told directly that one would not be.
So...im simply on the bid accumulating. No sense in buying at .0002 as the company has not given us a catalyst to do so. Shareholders are growing impatient yes, but the company has fulfilled all promises to date.
They BEST issue this website THIS WEEK followed by the presidents letter, or we will go bidless once again.
