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I think you misunderstood what I was saying there.
I was saying the RS was a very high probabilty because I think they will keep diluting so much that they will not let the share price rise any appreciable amount, and certainly not enough to get above $1.
Now, IF the company would change its pattern, it would be excellent, and share price would be allowed to rise, and we could avoid the RS. I just think from their filings the writing is on the wall that a change in their dilution tactics is NOT a part of their plans.
In your post though, you took part of my statement and not the rest. I stated:
"idea why the huge drop?"
http://xml.10kwizard.com/filing_raw.php?repo=tenk&ipage=8092656
Peeps are pretty upset with continual dilution and the option on the table for a second RS within a years time frame.
Peter only used the first RS to get the price up enough to have room to dilute weekly for 6 to 8 months and still stay above .20, until they can start looking at the next RS.
You know the story. Most stinky pinkys act like this.
Many people here were thinking a NASDQ stock would have more pride and more going for it than to have to resort to such measures continually.
We are getting closer every month, LOL.
So, back to who READ the filing:
The filing fills in the holes enough that it looks VERY likely that a RS sometime before Sept 20 is extremely close to immenent.
The IF the PPS is still under $1 portion of your statement, from what I see, is at least a 75% probability due to the fact that they cannot stop diluting.
Heck, they are diluting so fast that they are running all over themselves trying to get those shares out the door while we keep seeing the daily dump on our Level II, just as we saw twice, yesterday.
So, to me, it looks like the RS is pretty imminent due to the fact that they are demonstrating no intention whatsoever on allowing the share price to appreciate for any extended amount of time before enabling another entity to dump yet another load of new shares onto the bid.
Heck, after looking at it all again, I'm thinking more like an 85-90% probability of a RS before Sept.
It is obvious that this destruction of share price will continue, and the possibility of a RS will remain VERY PROBABLE until this POS company can show something AMAZINGLY positive that will generate SIZEABLE revenues from all these deals for which they keep creating shares.
Of course, that is why we are all here - hoping for something, JUST ANYTHING positive enough to produce some kind of revenues that MIGHT just show some profits.
Now, if some of those deals do actually start generating some decent revenues, we just MIGHT have a SLIM CHANCE of avoiding that highly probable (some would say, imminent) RS.
Big problem with your #1 there:
If you read the filing it states that they are already diluting and continue to dilute daily over and above the AS count that we currently have.
Excellent post there.
Now that the cards are on the table, let's start with the next hand:
I certainly think that those who see this RS as an insurance policy are correct in their thinking. Big question: Insurance against what? Everyone here has to figure out whether or not the executives of the company are concerned that they might not get $1 by Sept 20, or are they just following the rules to get the extension. I'd say odds at this time are 75 (Not get to $1) to 25 (just following rules to get extension).
Reasons I think that staying under $1 is the higher probability, and thus requiring a RS before Sept 20 (that will happen, of course when you least expect it - so remain VERY CAUTIOUS if you continue to trade this POS):
What concerns me most is that the this filing demonstrates once again that the dilution is ongoing and even more rampant than even I thought.
The point is: They are PLANNING ON one when they need it. And the way they dilute, they WILL NEED IT.
You all kept saying it would NEVER happen, IMPOSSIBLE for it to be considered.
AND NOW, the company is announcing that it is a possibility to happen.
ROTFLMFAO! I just got home and read the news!
How many times did I tell everyone here that you better be careful because a RS was very likely and the posters who kept yelling BUY, BUY, BUY told me I was crazy, and a RS was just NOT going to happen.
AMAZING!
I am so happy I heeded my warning and had emptied all my trading shares and the majority of my core when I saw those two dumps come today. When it could not hold above .27 for a second day, I knew this was going to be a scary weekend.
I'll be right with LTG and Legion looking to see if a priceless opportunity presents itself Monday.
But I may wait until Tues or Wed to load up because I think this is going to take a bit more time for the dust to settle than just one day.
Like I have said many, MANY times before, you just CANNOT trust a word Peter says.
And there is your second load of dilution shares for today, courtesy of Peter Hoffman.
And SAPX will provide another 250,000 to 800,000 shares when we open for trading Monday.
And then again on Tuesday,
And then again on Wednesday, etc. etc. etc.
Sure as a person's nose, it does not look like it is even near being finished.
So I take it that means you sold around 100,000 this morning after you bought them around .25.
Yeah, I saw them also.
However, EDGX is also one of the huge share dumpers.
And there we see CINN wacking that huge bid pretty hard right now.
Going.....
Going.............
GONE!
Looks like around 700,000 or so being dumped in between .275 and .28, wouldn't you say?
LTG may be right, and the bottom may just already be in by the way the trading looks today.
I was hoping to pick up some more at .214 or so, but looks like I have to raise my bid, LOL
Kind of depends on if CINN and EDGX bring out another million or so shares to dump on the market sometime in the next week or so.
Oh, we may get an encore performance during the power hour. Have to reserve your seats to see what that might bring, and keep ask slapping to get them to come back to the stage.
Sheesh Shish, that is a great synopsis! Thank you very much for taking the time to put all that together.
ROTFLMAO, Good one!
I still say it goes to .21 before the bottom is in.
Yes, no wonder this does nothing but go down!!!!!
They only release any positive appearing news so that they can release another 5million shares every month.
Ridiculous!!!
If it walks like a stinky pinky and quacks like a stinky pinky, it must be a stinky pinky, just not placed on the appropriate exchange as of yet -- THAT will likely be rectified soon.
I had posted this in one of my messages last week. Sorry that you missed it, but you now have the information.
No, he didn't.
I should have tried to pin him down on that issue.
I beg your pardon. I was told specifically by Michael Porter (SAPX's new IR person) that they would release it today.
However, do I really put full confidence in what Porter says?
No, not really. So I think it is a 90% chance it will be released today, because Porter told me twice that it would be released today.
It is in here, NOT the date but the time frame that they are required to file by:
I'm not quite so sure about that. I am holding some, and I for sure think a realease at the beginning of a week shows much more positively than a release at the end of a week after market hours.
At the end of a week shows that the company knows it is news that reflects badly on the company. End of the week timing is set so traders/investors cannot react so quickly to the information. If it is bad news, it is more frequently released at this time.
Companies frequently release positive news at the beginning of the week so that investors will be motivated to set up their positions to be ready for better news to follow in the week.
I may be wrong, but I do not expect it to be filed until Tuesday.
Whether it is filed before market open or during market hours or after close, I do not know, but from the conversations I have had, I was led to plan on it being filed on Tuesday.
However, we all know that the information provided by different company contacts have been completely contradictory, so you can see how much confidence I put in the information I have regarding a Tuesday filing (which is why I have not posted this until now).
I remember the company being on some of that also this past summer. I did not like it at all.
What I meant by "You might want to look at that again" is:
You posted:
"Nov 5 = 1 month
DEC 5= 2 months
JAN 5 = 3 months
Feb 5 = 3 months ****Error - Feb 5 should be 4 months
March 5 = 4 months
April 5= 5 months
May 5 = 6 months
NORMALLY (SAPX) is going to trade at above 1 $ before May 5."
That would put March 5 as = 5 months
April 5 as = 6 months,
so according to your belief, "NORMALLY (SAPX) is going to trade at above 1 $ before April 5"
OK, appropriate thought, but then why in hell doesn't their PR guy know about the dates?
I know he told me they really were not thinking about counting days, but in the retail investors' world, Yes, we like them working on deals, but we also need to have accurate info regarding what is happening and on what dates.
Either way this is a mess created by the company just as they have done with other issues also - all becomes fodder for shorters - this we do NOT like, LOL.
And again, how many times has a company told someone that, and then within the next month, or sometimes even within a week, there you go, you get a PR stating the company is going to do a RS?
Then why in the hell won't they PR the correction?
What kinds of misinformation games are they playing?
You might want to look at that again.
Also, there is more than 1 way to get this above $1.
The other way is totally undesirable for current shareholders, and I suspect that is the route the company will choose.
Well, Michael Porter said the opposite.
I will be out much of the day tomorrow, but I will try and call him later in the day and I guess the only way to settle this is to read the message board to him and get his response.
But REALLY GUYS, if it is not in print, it is NOT a fact that they are bound by. They PRd March 1, and have NEVER, IN ANY WAY, PRd anything about March 21 or 22.
That is wrong information
Day 1: Feb 15 Needed to close above $1 for the first of the 10 days
Day 2: Feb 16 Needed to stay above $1 closing bid
Day 3: Feb 17 Needed to stay above $1 closing bid
Day 4: Feb 21 Needed to stay above $1 closing bid
Day 5: Feb 22 Needed to stay above $1 closing bid
Day 6: Feb 23 Needed to stay above $1 closing bid
Day 7: Feb 24 Needed to stay above $1 closing bid
Day 8: Feb 27 Needed to stay above $1 closing bid
Day 9: Feb 28 Needed to stay above $1 closing bid
Day 10: Feb 29 Needed to stay above $1 closing bid for the TENTH consecutive day by March 1 (I do not think they count March 1 in the ten days, I may be wrong on that though)
No, Legion,
Evidently you forgot that the 20th is Presidents' Day, therefore, NOT a trading day so is not in the count of 10 TRADING days. The price had to get above $1 TODAY in order to meet the minim bid requirement for 10 consecutive TRADING days by March 1
I think Hoffman got his information mixed up somehow and I don't think Hoffman really knows what the deadline is.
I do know that Porter said there was no reason to issue a PR correcting the PR stating that the deadline was March 1, because the dealine is, in fact, March 1.