onemessageonly DD recap.
1)LUXD had a ridiculously tight float.
2)Float was 7 million shares as of July 8th.
3)They owed like $60,000-$70,000 off some note from a year or two ago.
4)This $60k note can be paid back with stock.
5)Paying off old debts like this note is something shells often do right before a merger. They clean up the books, pay off any old debts. This way they have a debt free shell for the merger.
6)Back in February they converted part of the note into 3.2 million shares. This is part of our 7 million share float.
7)The CEO owns all the other shares.
Now to onemessageonly DD posts:
1)He thinks the float at 7 million shares was too small.
2)He thinks ihubbers are horrible traders.
3)He thinks if the float had stayed at 7 million the stock price would have been all over the map. Spiking over a dime then back under 2 for example.
4)He thinks this is bad because then the board would be a zoo with the people who paid .10 pissed off and posting stuff because the stock dipped back down.
5)He thinks they have converted part or most of that $60 grand note into stock.
6)He has a formula he made up to estimate how many shares were added to the float.
7)He is glad the stock didn't run because he's not done buying and because he wants the stock to run on real merger news not on speculation of the merger. Converting that note into shares slowed down our run a little bit. He thinks this was a good thing. If it wasn't for those few new shares this float would have been gone long ago. See items 3 and 4.
8)This way with real merger news and a sucked dry float.....the longs holding the float can name their own price when it becomes time to sell.
9)How much of the note is left, he thinks it could only be 200,000 shares or it could be as high as 4 million more shares.
10)He thinks this is trading perfectly and healthy and with merger news is primed for a major run.
AI
