So GNGR is a public company that is only operating just to take my $500 purchases? That's pretty foolish that a company would spend money on lawyers and accountants and OTC fees and get to OTC current just to fill my small orders and run.
If that is the case, the CEO is either very rich or a complete moron or simply crazy. But he got GNGR current none the less.
Why on earth would GNGR take the time and costs to file and be current for no reason at all? Why would GNGR do all that? What will be GNGR's next move?
Did they spend $1000's and $1000's just to take my $500 and claim a victory by taking my $500 and running away?
That's about as dumb as a person starting a pizza restaurant, work years to make it operational, buy more equipment, Hire people, Sell items to customers, then when the time is right after all that, Take $500 from the register and run.
I have stated this again and again.
If GNGR is delivering the goods not just to me but others I know then I will stick with them until I see differently.
If GNGR were a scam, they are doing it wrong.
I would like to know this from anyone if they are able to answer. WHY is GNGR public and what is so bad about what they are doing now? They made a change for the better and are OTC current and filling orders. What is the issue with all of that.
I guess time will tell but it's also hard to believe the CEO is keeping GNGR public and current just for the hell of it.
The float is low, to low in fact for any liquidity. They are debt free and current and shipping orders.
I do know that the low float by data is so low that they may be stuck in a holding pattern as the market makers can't sell what is not available.
I called my Etrade contact and I also called scottrade and schwaub and a few others who all looked at GNGR's ticker. They all said the same thing, GNGR for an OTC has a float so low that they won't ever get a market made for the stock.
What then? the stock stays at the current float and we just sit there? Even if profits are posted next year that may not be enough to rally any interest in what is not available and not attractive enough to clear out the asked to the point the MMs have to raise the bid to get sellers to sell.
What I also see is that the asked is very thin. A few $1000 and the asked will be depleted and one major news release or increased financials can deplete all the level 2 asked prices causing the bid to rise.
My broker said that the worst part for GNGR is that the low float and low price shares mean there is no real commissions to be made on a trade. Selling 10,000 shares for $.0045 for $45 is hardly incentive money for a market to be made with GNGR stock.
If you research on the OTC under trades and click by share volume, almost all the companies that have liquidity and trade millions per day, all have a large float. And many are still on the STOP sign yet they trade $50,000, $100,000 to as much as $350,000 in one day and raise millions of dollars that the CEO takes.
If GNGR did that just the same but used the capital to expand, would that not be good for the share price even if it went up to $.05 per share? I would do very well if GNGR went to $.02.
This is what the OTC is. GNGR's structure is similar to a NASDAQ company with only 100,000,000 in the float but they are on the OTC not NASDAQ. And going to NASDAQ is not an option for them at this low level or ever.
This very low float on the OTC being below $.05 is problematic for GNGR but is it possible that GNGR shares will rise in time to $.25 if they do manage to create sales and revenue moving forward with such a low float? Again time will tell.
What I do know is OTC players prefer to get lots of shares for their money and rarely buy a stock for $.25 that was once $.002 so they move onto another new issue where they can buy 1,000,000 shares for $2000 to as low as $10 for 1,000,000 shares and hope it rises to even $.01 to make a hit. Is investing $2000 to make $8000 a hit? Percentage wise it is but lets face it $8000 and you can't retire.
This mindset makes the OTC more of a hobby and gamble (or people who just like punishment) then a real place to look for a means to retire. GNGR is not offering that challenge to make some money or to make even a little hit simply because they just don't have enough shares in the float that people can buy cheap to make a small gain and claim victory.
GNGR needs to make a move of some sort, just not sure what that move is.
I own a decent amount of shares in GNGR that did not send me to the poor house and if GNGR can make it back to $.15 Will do very well but not be able to retire (thank good for hubbies pension) He is still waiting for Apple to triple in price to gloat on our challenge.
I still believe GNGR can go from the current price of $.004 to $.04. The questions is, will there be enough shares available and an increase in price to raise the bid to $.04?
If GNGR even increased the float like those others on the OTC that have billions in the float with millions trading daily, and the share price of those are the same as GNGR's current share price, one would assume that GNGR's liquidity would rise and the share price would remain the same or rise.
The other company's have lots of debt and no sales or even products so GNGR as a company is actually better then most OTC's but their share float is not.
GNGR needs to do one of two things in my opinion.
1. Post profits so high like $2,500,000 and the stock now will jump to $.25 but they probably are not even close to that yet.
2. Increase the float to get a market made and attract new investors and also be able to raise capital and expand.
Now they are in a holding pattern and I am sure they know this. Again the CEO can't be so crazy to do this for no reason so one has to guess, will it be profits or increased float.
Or how about BOTH! Profits and increased float. That would be an OTC company milestone.
:)
