Thanks! Good to be back. Company still looks good in my opinion.

The one thing that has always been an issue for AMMX is trading volume. There aren't enough eyes on AMMX because construction equipment isn't a very exciting industry. Not sure how this low volume issue could be fixed, but maybe updates on the Niger issue will help.

Good luck to everyone.

Been out of AMMX for awhile, but added some more today.

lol please tell me no one actually believes that...

Terrible grammar, improper use and sharing of insider information, preposterous valuation, brand new user on the board, etc. etc. etc.

This drop has nothing to do with short selling. Tons of bid whacking, which wouldn't be allowed under the short sale restriction rule.

Tim Sykes is definitely not touching this - not liquid enough and too cheap.

The drop right now is mostly caused by panic selling and overall bearishness. Everyone expects MYEC to drop further and the trading reflects this.

From a business owner/marketer's perspective, this is how I see things:

First things first, this is my broad outlook on the company:
1. MyECheck to be a good company generating revenues and growing fast. It's hard to argue that the recent financials and company growth are not impressive.
2. The share structure is terrible and always has been. Once again, hard to argue that the share structure is not terrible and arguably the main reason for this downtrend.

So, anyway, this is my stance:

Ed either has a trick up his sleeve, ready to revive the PPS, or MYEC messed up their marketing strategy and Ed lost control of the PPS.

The reason I say this is because the PPS is dropping fast and investors are losing confidence. The logical thing to do would be to find a way to increase investor confidence. Rectifying this issue will not be as simple as issuing a PR like back in the day. Something bigger is needed. The financials will have to be pretty impressive to revive this. Additionally, I think traders/investors will want more news on product launches, etc.

The stock's historical price action and PR's prove that Ed understands his investors and knows how to engage them. That PR strategy at the beginning of the year was impressive to say the least. Ed was in full control of the PPS at that time. What would be the point of spending so much time on such a powerful PR strategy and company revival if you allow the stock to return to it's original PPS from before the run? Ed has been silent during most of this drop and has not addressed the main concerns of investors. That being said, the company has been hiring new employees, getting new contracts, and leasing a new office. In my opinion, the only thing that would justify Ed's silence is results that speak for themselves - which would be shown in the financials and upcoming PRs. So, I resort back to my first statement: Ed either has big news, or MYEC screwed up for now. MYEC has a pretty good track record, so I would hope that big news is coming.

If the PPS is not revived in the next few weeks, investor confidence will be shattered and a strong trend reversal will be much more difficult. This would obliterate all of Ed's hard work. Not only would this deter investors, but it could also deter potential clients. I get that the company restructuring and revival is a long term process, and there are some people here who consider MYEC to be a long term investment. That being said, that huge run earlier this year was a gift and should have been taken advantage of by the company. A pullback from .08 was definitely necessary, but a drop down to .0116 is way too much. If this goes back to sub-penny, that run and all of the PR's will have been a waste. It really won't matter how good of a company MyECheck is if their PPS doesn't reflect it. I don't think any of us are here to support good companies out of the kindness of our hearts; we're here to make money.

At the end of the day, anything can happen. No one here knows. In the mean time, there will be bashers saying the company is going to shit, and there will be overly optimistic longs expecting this to go to .08+. MYEC could go sub-penny, it could run again, or just consolidate for awhile. Either way, the next few days/weeks will be a pivotal period of time and should be interesting.

Good luck to everyone.

Here's my opinion on where MYEC is heading.

Warning, this is long. Brevity is not my specialty

First things first, let me give you an idea of where I'm coming from. My first MYEC buy was at .0025 and I have been swing trading the volatility since. I've made some of my biggest gains this year with MYEC, and now I am holding shares at a substantial loss. I know this stock pretty well. My analysis is not intended to sway people either way. Take it as you will.

I initially bought into MYEC because I believed it was undervalued. When this stock was running up to .08, I kept mentioning that the market cap was becoming unsustainable. The company was valued at over $200 million and moved mostly on hype. I took my gains and let the stock consolidate a bit. As the stock dropped back to the .03-.04 range I started trading it again.

Now, let's address this drop. This drop really shouldn't come as a major surprise. Remember, this stock has been in a downtrend since April and we haven't had a real trend reversal yet. Nothing can run forever. Look at the charts of other "hot" stocks that ran exponentially in the Feb-April range; the charts all look similar (ERBB, MINE, GRCU/TTDZ, HEMP). I'll admit that this has been dropping faster than I expected, but that's just part of the game.

From a charting perspective, MYEC looks pretty bad. There's no strong support levels above .01 and it is trending downwards (lower lows, lower highs). There's no real reason to expect a trend reversal quite yet, although it's not impossible.

From a fundamental perspective, the company is still moving in a good direction. In fact, that is the only reason I'm still holding my shares at a loss. Big things are always expected with MYEC. The financials have been constantly improving and the company is doing some nice restructuring. When the stock ran up, there was a PR almost every week. There was no way that was going to last forever. Even if Ed were releasing PRs every week right now, it wouldn't have the same effect. It is summer right now and the OTCs are slow. Look at a chart and you'll see the more aggressive downtrend starts in June.

If you got into this stock based on the chart, you should have been out a long time ago.

If you got into this stock because you believed in the company, then there's not much reason to be questioning your investment based on the price action. I'm not saying MYEC is an amazing company, and the recent drops are definitely unfortunate, but a fundamental investor's opinion of a company shouldn't fluctuate with price action. Yes, there have been delays with product launches, PR campaigns, etc, but the main reason this stock is pulling back is that it ran so high in so little time. It would have been almost impossible to sustain that upward momentum. That doesn't mean that MYEC is a scam or a bad company. The price drop is triggered by traders and emotions, not the company.


So, what happens now?

My guess is that MYEC will still need to pullback some more and test the .01-.012 area a bit. I hope it does not go sub-penny but I wouldn't be surprised if it did. The good thing is that this price range puts MYEC in a place where it is close to being undervalued. You couldn't make an argument for MYEC being undervalued at .08. You could make one for it being undervalued at .01 and below pretty easily.

People are panicked right now, so the price action is not a reflection of people's opinions of the company, but more a reflection of their intense emotions.

Do I think this stock will run back to it's previous highs anytime in the near future? No.
Do I think this stock will bounce again in the near future? Yes.
Do I think it can reverse trend and run again? Maybe.

Some things to think about:

To those worried about VFIN, know that he was selling shares in a similar manner since sub-penny and the stock still ran. VFIN isn't solely responsible for this drop either. Keep in mind that there are investors still holding millions of shares from the sub penny days. They can still get out for a nice profit in these price ranges. There's also the panicked bagholders who can choose to sell at any time.

The chart is basically bottomless right now (until we go back to subs). You can keep trying to guess the bottom, but there's a good chance you'll get burned. Also keep in mind that the move back up will probably be slower. A lot of people will want to break even, take smaller losses, or claim profits. Expect profit taking on every bounce.

A lot of news is expected. Financials by Aug 15, product launches, etc. Revenues jumped 359% from Q3 2013 to Q4 2013 and 280% from Q4 2013 to Q1 2014. Progress is happening. MYEC is expanding their team and infrastructure. Be realistic with your expectations.

Investors/traders need a reason to be bullish. Right now, MYEC is bearish. Understand the trend. Don't expect a run over night. This will probably need to grind down a bit more first. Be on the look out for a trend reversal before expecting major change. Remember progress is happening. It may not be happening as fast as you hoped, but its still happening.

MYEC shareholders are in panic mode right now and people are going to take advantage of that in order to get shares for cheaper. Don't be influenced by blatant negativity.

Remember why you got in the stock. If you were proven wrong and your opinion has changed, get out. If you still stand by your opinion, stay in. Simple as that.

Focus on the facts and avoid theories. Remember, you actually know very little about this company and Ed Starrs himself unless you have seen the operation and met Ed. Focus on the information you have available and make decisions accordingly. Don't expect Ed to be some savior here.

Realistically, this can move in either direction right now.

More bid sells will trigger more panic and send the price down. We've seen this chain reaction a few times already.

More ask buys will trigger a sense of bullishness and send the price up, especially if we close over the 200ma. We've seen this happen as well.

It all comes down to whether current shareholders sell at the bid or people start buying on the ask and there's no technical indicator that can give insight on that. Level 2 analysis and reactive trading is the best way to go, but there is still the factor of randomness.

I'm actually surprised at how bullish everyone still is during this drop. Usually iHub posters start panicking and cursing the company after a drop like this. Props for that. Nice to see that there aren't a bunch of emotional fairweather traders here.

I'm still bullish and holding my shares at a loss. No reason to panic unless you're in too big. I'm looking to add more shares at support, so I'm okay with a movement in either direction.

Next week should be interesting to say the least...

Good luck to everyone.

Take it as an opportunity to buy low than.

It's expected that a lot of people will want to exit their positions after that drop. Any offer on the bid is seen as an opportunity to exit a losing position.

That breakdown yesterday also made this a nice stock for flippers.

I still think this can run, but it needs to trade a bit longer. A close over the 200MA (.0169) would be ideal and could facilitate a run higher as it would make the daily chart look more bullish.

Definitely a lot of panic right now - makes sense. That was a sharp drop below the 200ma.

That being said, I still think this can bounce. It may drop further first though. Right now, a lot of stop losses were probably taken out. Some traders are probably panicking and getting out of their positions. This may continue for a bit, and every sign of weakness will be magnified by traders who panic and sell after every bid whack.

Any bullish signs should be magnified as well though. After the sharp drop, people need a reason to be bullish. New investors/traders want a clear bottom before getting into the stock. Once we know where the real bottom is, I think this should have room to run.

As always, people should trade however they feel most comfortable, but selling into panic is usually not the best idea. It also triggers a chain reaction of more panic. I bought in twice today, but I'm holding until the panic fades. No point in selling at the bottom.

Good luck to everyone

Agreed. The dollar risk/reward ratio for shorting is terrible. Very high risk.

As I mentioned earlier, I think NEWL may be able to bounce for technical reasons and maybe from some hype. I'm just staying out of because its risky for both longs and shorts right now. Too much going on behind the scenes.

Let's look at some old PR's to assess the situation

It seems that everyone is getting overly optimistic too fast due to after hours trading.

Now people are saying that Ironridge will have to buy back all of the shares they sold because of that PR? Come on. This may bounce, I'm not arguing that, but let's not go crazy with wild predictions.

It's difficult to make the argument that NEWL is a great company. They're stock price has been declining nonstop and they are bleeding cash ($158 million loss for 2013).

As for the current situation, read through some old PR's to get more info. It would seem that IronRidge keeps prevailing.

The stock may run on how people perceive the news, but be careful as to what you actually believe.

On June 5 from http://finance.yahoo.com/news/newlead-holdings-ltd-announces-granting-113000702.html

"NewLead Holdings Ltd. Announces Granting of Temporary Restraining Order Against Ironridge Global IV, Ltd."

And the stock price goes up: http://www.thestreet.com/story/12734995/1/why-newlead-newl-stock-is-soaring-today.html

On June 11 from http://www.reuters.com/article/2014/06/11/newlead-brief-idUSWEN00DGE20140611?type=companyNews

"NewLead Holdings Ltd : * U.S. judge denies NewLead Holdings Ltd a preliminary injunction to stop ironridge global IV from obtaining more NewLead shares to satisfy various liabilities"

On June 11 from http://finance.yahoo.com/news/ironridge-global-iv-ltd-successfully-212400815.html

"Ironridge Global IV, Ltd., an institutional investor in micro-cap public companies, today announced that Ironridge fully prevailed on the Temporary Restraining Order (TRO) and Petition for Preliminary Injunctive Relief Pending Arbitration brought by NewLead Holdings Ltd. (NEWL). After Ironridge was given an opportunity to respond at a hearing, the U.S. District Court ruled completely in favor of Ironridge, dissolved the TRO, and denied NewLead's request for a preliminary injunction."

"At a fully evidentially hearing on June 9, 2014, Ironridge proved that NewLead's allegations that Ironridge breached its contractual obligations – which were based entirely on rank speculation without a shred of evidence – were all demonstrably false."

And the stock drops: http://www.thestreet.com/story/12741798/1/why-newlead-holdings-newl-stock-is-tanking-in-after-hours-trading-on-wednesday.html

On June 13 from http://finance.yahoo.com/news/ironridge-global-iv-ltd-receives-233800225.html

"In addition to finding lack of jurisdiction, federal judge William H. Pauley III completely rejected all of the false claims asserted by NewLead Holdings Ltd. (NEWL). Contrary to the frivolous accusations of NewLead, the federal court found that Ironridge has never manipulated NewLead's stock, and that Ironridge has no undisclosed brokerage relationships."

""NewLead's share price has declined precipitously over a period of years. Ironridge had nothing to do with any of those declines." (Order, page 14.)"

""Ironridge is responsible for only a small portion of NewLead's share dilution. NewLead will continue to hemorrhage common shares and dilute their value regardless of whether Ironridge is enjoined." (Order, page 14.)"

""Ironridge agreed to accept cash instead of shares. But NewLead has refused to pay the cash." (Order, page 14.)"

"Ironridge showed in its Memorandum of Law that "NewLead's allegations that Ironridge breached certain of its contractual obligations and engaged in so-called market manipulation – which are based entirely on rank speculation without a shred of evidence – are all demonstrably false as evidenced by the indisputable trading records Ironridge has attached to the Brendan O'Neil Declaration."

Download the court documents if you want to read more:
http://www.scribd.com/doc/229276217/U-S-District-Court-Order-in-Favor-of-Ironridge-Global-IV-Ltd#download

http://www.scribd.com/doc/229582296/Memorandum-of-Law-in-Support-of-Ironridge-Global-IV-Ltd

Now today's PR (June 17) from http://finance.yahoo.com/news/newlead-holdings-ltd-announces-inappropriate-200000365.html

"NewLead Holdings Ltd. (NEWL) ("NewLead" or the "Company") today announced that Ironridge Global IV, Ltd. ("Ironridge") has inappropriately, again, exercised "self-help" in directing the transfer agent to issue shares to it, after conceding in court that NewLead had made an election to pay the dividend and embedded dividend liability of the Promissory Note ("Note") in cash."


I wonder what comes next...

Here's my unbiased take on everything.

First of all, today was a hell of a day.

I think this could bounce but I'm not optimistic enough to hold my position. I sold my shares after hours for a loss. That being said, I do not intend to get back in and I don't short stocks so this post is unbiased. I don't want anyone to lose money, and I don't think anyone is stupid for being either bullish or bearish. I come to these boards to get some opinions from others, so I figured I would share mine. Too much pumping and bashing in here right now.

Keep in mind that I am a day/swing trader and I don't really care too much about the actual company in this case. I haven't even seen a PR related to operations in about a month. Everything is about the stock. The stock is the product now so there will be a lot of technical traders involved.

Let's look at all of the facts.

The Negatives:

- The chart is now bottomless. There's no real levels of support for technical traders to start buying around. This stock has closed red 16 of the past 19 days. Every day traders probably thought a bounce was imminent. I know I did, even when I bought in at $1.30 (luckily I sold for a minimal loss). There is NO bottom right now and this can run lower than most people expect. I was counting on the .3788-.40 range support to be tested, but this just kept setting new lows.

- There is clearly dilution and it seems to be neverending.

- Nobody fully believes the company's PRs anymore. People are skeptical to say the least. If that recent PR is not true, there's more bad news.

- So many people are looking to get rid of their shares right now. Notice how any time a new high bid shows up after hours, it is taken out almost immediately. The price stabilized a bit, but this kept happening during the first hour of after hours trading. In short, people want out and you can't really blame them. Any signs of weakness will be magnified as panic sets in and traders unload shares.

Even if this does show some strength, it can be run down so fast with more dilution.


The positives:

A short squeeze could be huge if it happens when there is no dilution going on. We've seen it happen before and it was great.

After hours trend has been bullish, however, NEWL usually trades a bit higher after hours (which is why I waited to sell)

Any bullish signs and I think a lot of traders may jump back in due to the "gambling" nature of this stuck. Of course, that is just my opinion.

"If" the recent PR holds true and an agreement was broken, there may be some hope for rectification.

In terms of dollar gains/losses, there is more potential upside than there is downside so risk/reward ratio is good.

Overall:

This is a gamble play right now. No one knows what will happen tomorrow. Could be more dilution, could be a short squeeze, could be more news, could be something completely different. The negatives outweigh the positives right now; you can't really argue that. However, That may not be reflected in the price action.

This could run back to $4.20 or it could drop another 50% to $0.20 tomorrow. We have no way of knowing: simple as that. That makes this a gamble play which means it really comes down to your risk tolerance and entry prices.

Personally, I avoid that kind of uncertainty. I'd rather miss out on an 100% gain than take a 50% loss.

I've been bullish for the past week, but now I am just sitting back and watching.

Had I bought in at the lows today, I would still be holding my shares just to see what happens.

Since I had a small/medium sized loss (.428 was my average buy price), I sold my shares to avoid larger losses.

Once again, this is all just my perspective on things. Don't get offended. I have no ulterior motive here and I don't want anyone to lose money. I understand where everyone is coming from, and now that I got rid of my shares I can step back and analyze this from an emotionless standpoint.

Good luck with the trading tomorrow!

On the bright side, the ask is thinning out. Seems like a bunch of sellers from the ask just sold into the bid. They've been there for days so this may be able to bounce soon if the ask doesn't get stacked with orders.

I'm not too optimistic yet. Let's see if .004 support holds. I have an order in at .004 to build some bid support.

Yep, AMMX is doing fine. Slow and steady movement like usual. It's boring, but not a cause for concern. AMMX has been up 20-40% since jeffdecker started his doomsday predictions.

You've been saying that for weeks. Your credibility is shot.

Give it a rest.

Good company. Terrible trading.

Here's my two cents. This stock has been dropping for one main reason: panic. People see the stock selling off and they start to worry about their position. I can't blame them. No reason to hold onto a losing position when there is no bottom in site. Every time the price drops further, more people are tempted to sell. It's a self-fulfilling prophecy, but a reality nonetheless. Think about it. If you owned shares today, how many times were you tempted to sell in order to avoid further losses?

Even if you believe in the company, you are forced to sell some shares to maintain a solid trading strategy and avoid massive losses.

That doesn't mean this is a bad company. Sure, there are some negatives, but all companies have negatives, even Fortune 500 companies. I'm not saying this is an amazing company because I don't know enough about them, but I do know that it is undervalued based on the financials I have seen. I didn't get in this stock because of any pumper and I'm not trading based on what anyone else is doing.

I think there are still a lot of people who want shares when a bottom has clearly formed. I know I do. I want millions more shares but I'm not going to be a martyr until I know what my risk is. I made the mistake of thinking technical support levels would hold and I loaded shares along the way. Right now, this stock is breaking through support levels too easily. There was barely any buying pressure on the ask today.

That being said, I think that some buying power will go a long way. Similar to how panic triggers more panic, confidence can trigger more confidence. If a few million shares get taken out on the ask, this has room to run. I'm not telling anyone to just hit the ask because that would be foolish, but I do think a time will come when this can bounce back. Traders just need a reason to be bullish and we haven't been given a reason in the past couple of days.

Just because a stock was pumped doesn't mean it is "just a pump." Any stock can get pumped because anyone can choose to pump a stock. Sometimes a pump is what a stock needs to reach it's true value.

Most pumped stocks are junk, yes, but I have found some gems that have been pumped. The trick is waiting for the "pump crowd" to exit their positions. I messed that up a bit for this one, but I still like the company. Based on financials, this is incredibly undervalued.

I completely agree with you.

I think the company could have handled this recent run much better. Some PRs would have been nice, and, of course, some transparency about the share structure.

That being said, unlike many other penny stocks, this company is very profitable. They may not be good at managing their investor relations, but at least they are good at running their business.

Don't get me wrong, I don't fall in love with penny stock companies. It's rare that I will buy into a stock based on the company's fundamentals. I am exceptionally critical. But from a fundamental perspective this company is undervalued, even if they doubled or tripled the O/S. Of course, price action tells all, so we shall see.

It would be nice to see any news after this recent plummet. I keep picking up shares every day but it seems like there is no bottom in site, which is clearly deterring buyers because the ask is barely being touched. Some buying pressure would go a long way here.

I think people need to look at the financials again http://www.otcmarkets.com/stock/NWGC/financials

$2.2 Million net income for 2013
$751,000 Net income for Q1 2014
$6.8 Million Net Tangible assets

All of this from a company with a market cap of around $3.5 million right now.

The chart looks like shit. The trading today is terrible. But, the company seems to be doing pretty well. People are just panicking and selling accordingly.

I have no idea as to whether or not we will get a bounce soon and I am not in this because of any promoter. I'm in this because it's significantly undervalued if those financials are accurate. Of course, fundamentals don't mean anything unless the market reacts to them, as shown by NWGC's historical prices, but it's a nice fallback.

I'll probably pick up some more shares at the end of today after seeing the price action for the next half hour. It's definitely a risky play, but that comes with the territory

This company has fundamentals to back their share price. Did everyone forget that? Seems like people panic/rejoice relative to the way the stock is moving and completely forget why they bought shares in the first place.

Sure, there will be profit takers because this just ran a lot. Plus, everyone is panicking now and trying to get out, but that can be a self-fulfilling prophecy. If everyone remained calm, this would be fine. Stacking the ask is not a smart idea right now. I'm not here to tell anyone how to trade, but stacking the ask hurts your own cause because it deters buyers and worries shareholders. A little buying pressure can go a long way here.

This isn't just some pumped stock. They actually have very impressive financials for a company with a market cap under $4 million.

Agreed. I've been buying all day. Got a few hundred thousand shares.

I expect some more sell offs from people who bought in the .001s and .002s but once they are gone, I think this can run.

The fundamentals speak for themselves. This is a longer term play if you are in based on fundamentals.

Been adding all day today and yesterday. Company seems way undervalued based on financials.

You're making it too obvious that you want to buy back in at a lower price.

Lots of selling today? You've got to be kidding me. There wasn't "lots" of anything today. The daily volume was less than 370,000 shares.

You're going overboard with your technical analysis and using it to try to prove a theory you've already embraced. That's backwards logic.

MACD doesn't matter. Stochastics don't matter. Charts barely matter. This Time and Sales data doesn't matter in the way you think it does.

Don't get me wrong. I am a technical trader so I'm not bashing the art of technical analysis, but you're using it improperly. First of all, AMMX is a fundamental play not a technical play. If you are in this stock for the chart, you should get out now. The low volume is enough to deter any technical trader. Additionally, due to low volume, there's not enough data for technical analysis to be meaningful. The stock may go down; I'm not fighting that because I have no way of knowing, however, the rationale behind why you think it will drop is flawed.

AMMX traded less than $13,000 in dollar volume today. That's nothing. You can't draw conclusions from such a small set of data like that. Real time tape reading can be helpful, but historical data is not as insightful. It's the same reason why studies with small sample sizes are not taken seriously.

Charts and any technical indicators mean very little when the volume is this low. Charts are intended to summarize massive amounts of data and make it easier to read. There's not much data to summarize with AMMX's daily price action. If the chart were the reason for AMMX's drop, it would be a self-fulfilling prophecy or pure coincidence.

AMMX trading is mostly random lately. If one person decides to buy a good position right now, they could push the price up considerably. If someone decides to sell a lot, they could push the price down considerably. Most stocks aren't that volatile.

A positive catalyst can go a long way here, however, so could the absence of one. Stick to your original trading/investing strategy and you will be fine.

As I've said in almost every post recently, THE BIGGEST ISSUE WITH AMMX RIGHT NOW IS LOW VOLUME. Don't try to find any better explanation than that. No need to question the company's merit, as they are doing great. No reason to look at charts, as they are almost useless here. No need to criticize other trader's trading techniques, as that is a constant in the markets. The stock only traded about 350,000 shares so far today. A few people on this board probably have more shares than that.

Thanks. Finding the bottom isn't too easy, but that's why I like AMMX. Even if you don't catch the daily bottom, there's a good chance the stock will go up in the coming weeks and make for a good swing trade.

The spread is pretty crazy today, but I don't think that is terrible. It shows indecision on both sides. Sellers don't want to sell too low, buyers don't want to buy too high. Considering the huge drop we had earlier, it's a good thing that sellers aren't just panicking.

I already got filled 3 times today at good prices. Im looking for one more fill considering how low the price is right now.

Great trading - that's what keeps this stock from dropping. Im gonna throw up a bid soon but I want to examine the price action a bit more after that "sell off"

Nice call. That huge 400k seller is now gone so this has room to run. That being said, a lot of people's buying pressure is exhausted from taking him out.

Today is a day for good dip buys. Im looking to get 100,000 more shares by the end of the day. Ill let the price action determine where I purchase those shares.

Yep, I got 100,000 at .0301 and Im considering taking the remaining 102000 at .03 right now.

The announcement was good news, but the company keeps releasing things about how they almost have the deal. We need to hear something that lets us know this deal is for real. I'm not complaining about how the company is handling things. I think they are doing fine, but other investors want certainty.

They keep dropping their ask price, so they are either trying to lower the price or they just want to get rid of shares they bought a long time ago at a cheaper price. Manipulation of such an illiquid stock doesn't seem feasible but you never know.

200,000 shares taken off that 400k order at .03 now. Im considering taking out the rest.

Just picked up some more shares. Great day for buying.

To everyone who thinks it is ridiculous that the price is dropping, you need to remember how this trades. LOW VOLUME is the reason for all of this. Today is a high volume day for AMMX and it has barely traded above $100,000 in dollar volume.

It's great that there are so many longs here, but who do you expect to drive the price up if everyone is just holding shares and not buying? Other investors/traders will get bored of the sideways trend and sell, causing a stronger selling pressure and less buying pressure.

I'm not telling anyone to buy; it's not my place to tell people how to trade. I'm just giving an explanation as to why this is moving the way it does. This shouldn't surprise you. This is how AMMX trades.

With all due respect, I don't think there is an "unknown force" holding this down.

The fact remains that AMMX has low volume and always has. That , combined with the wide spreads, makes the stock susceptible to fast movements.

The seller at .04 is holding back the run today. But, considering that so many people loaded shares in the sub pennies (myself included), it would make sense that someone would try to sell their shares for a nice profit. You can't expect everyone to want to hold forever. That being said, the seller should have broken down the order into smaller orders in order to allow the stock to run. The chances of getting that full order filled are slim.

Unfortunately, you cannot control how other traders trade so you have to devise your strategy accordingly.

AMMX is a longterm play so intraday action doesn't matter too much. Just look how far the stock has come since the beginning of the year.

Picked up more shares in the .036s

PR Released: http://www.4-traders.com/MYECHECK-435009/news/MyECheck--Reports-13-Million-Net-Earnings-in-the-First-Quarter-2014-18450137/

Working version of financials and disclosure: http://upperdivisioninvesting.com/myec-financials-2/

Of course. I know how anxious everyone is to see them :)

Yep, disclosure statement available here with Q1 report http://upperdivisioninvesting.com/myec-financials-2/

Here is a working version http://upperdivisioninvesting.com/myec-financials-2/

I tried opening it in a few different programs without any luck...

If you can get past the 7 million shares before it

What caused this drop? I just checked the price now. I may want to buy some more shares on this dip after I figure out what caused it.