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T35, not likely since Jimmy did not break any laws.
While the asked only slightly rises after 9 million shares. The bid stays the same $.001 at over 43,000,000.
When May's float data finally catches up to the shares further dumped into the market, we will likely see the float at or about the entire 10 billion. At that point SGMD will probably add another 10 billion to the authorized.
As long as people are cost averaging and buying new at these levels, more share will soon be added.
As I have said, no one can sell at a profit EVER!
Or so you are told. Ignorance 101
What you stated is correct except for one thing, the actions SGMD has taken as in your post are not by accident or just bad business. It is a share only selling plan and nothing else.
To be just a share selling OTC only requires one CEO while others run the show behind the scenes. The CEO only issued certs when debt investors pay a few bucks and after that transaction the only element to all this is hyped news, no action.
But everyone here knows this having been through it more then just this time. Most took a gamble on this like a lotto ticket. The gamble did not pay off and now people are complaining their numbers did not win.
It's the normal progression of these OTC stocks.
:)
Re: Problem is Jimmy is the only show there is little to zero management in this company capable of operating the company Jimmy can make all the deals he wants but if he doesn't have management to operate it it means nothing and the stock as we have seen will go nowhere. You cant build a company buy just buying minority stakes in other peoples businesses and hoping for the best unless your building a scam
Suiss. They won't buy budcars because the financials posted by budcars may not be correct. If SGMD buys controlling interest they would have to consolidate the financials.
It is then when many will find budcars did not make what they claim.
Remember, the SEC cannot charge fraud on SGMD for posting false data that would be budcars fault. But if SGMD acquired budcars they would have be responsible for the budcars questionable data.
As long as SGMD does not own controlling or financial consolidated data, they can say they are buying 30% of 1,000's of private companies and say each is doing $20,000,000 in sales and not one penny is added to SGMD data.
All the money you see each day from shares sold in SGMD does not go to the company but 3rd party investors who have no affiliation with SGMD.
If you go to the OTC, click on the ticker all you see is debt debt debt and no sales or cash on hand. Well maybe a million if that but that is far from the $80,000,000 raised selling just shares.
why sell MJ when they they can make more money selling shares?
Many low asked being placed, not getting filled-> Should be quiet for another few minutes for the system to catch up then the MM's will raise the asked and bid.
Maybe I was wrong about SGMD.
suissac, the only ones holding the stock are those who own it at a loss who keep buying it lower and lower or who are cost averaging.
People have to hold the stock because they can't sell it at a profit. No one can. And even if and I say a BIG IF! you see the shares as a profit in your account does not mean they can be turned into cash. The moment someone with shares tries to sell them will kill the price and also the market makers will halt any new bid transactions other then back at a loss for investors.
The holders of the difference between the 9 billion and 5.3 billion shares (3.7 billion) are not investors holding as if their is some mystery thing that is going to happen that will make the shares rise. The shares held are not being held by investors, they are used to compensate PR firms, Pumpers and marketing releases.
I understand it all, I know everything about this. Either you or me will be 100% correct about our take on what will happen and sorry to say, I am never wrong.
No one is holding anything except the suckers who bought this stock who are only holding shares worth less than what they paid and it will remain that way.
I still think they will add 10 billion or more to the authorized. maybe even 99 billion or even unlimited which is an option.
Don't you find it strange the $10's of millions they raised that none of it went back to SGMD? it went to debt investors who paid the CEO a few bucks for shares that were then dumped into the float and those dumps and daily sales of shares are being paid NOT to SGMD but the debt investors who have zero to do with SGMD. and that means the stock will never recover.
MallenNV: What you need to understand is this; the float still reflects roughly 5,300,000,000, while the Authorized shares is 10,000,000,000 and the outstanding shares is setting roughly at 9,000,000,000, this tells me, there are people holding this stock for something.
If this follows those who paid cheap for other Grayscale stocks that hit upwards of $50 per share, this one should do very well.
suiss, When the shares slow down, is because they are almost out of debt authorized. When they run out, the marketing and pump will stop and cause the price to drop to <$.000?
Your posts are 100% backwards. When the stock slows down it means NO ONE IS BUYING! When that happens, the market makers won't buy what they cannot sell and thus your shares will be almost worthless.
I am sure as people keep buying they will soon authorize another 10 billion and keep selling cheaper and cheaper.
The only way shares rise in price is if the market makers buy them for more then you paid to sell higher. But if they cannot sell them for more what makes you think they will buy them for more?
You think the market makers are going to put a bid price of $.02 for 9,000,000,000 shares? And if there is no one to sell the shares to it would be a total loss.
You will never sell at a profit. I hope you understand that.
The end is near.
Should move up nice and slow. Perfect!
Longs may pan out. I do see this moving past $.15 on the quick run and may still settle back to $.13 from some profit takers. Still not so bad.
I'm riding this one up for now. Knowing what will happen down the road. make some $$$$$ initially.
MDA that is why you should open a small margin account and when you see the volume exceed the float on an OTC with large debt you know what is going to happen. Then you jump in when the shares are above $.01 short them legally and let the long shorts do the dumping. when they trash the price that also allows you to buy but for less what you sold higher.
This is a short play not a buy and hold. If you know they are dumping 400m short disguised as longs then you can GUESS who actually legally shorts what FINRA shows on the data.
Get in small on 100's of these but not at longs but shorts. Buy $.10 sell them a week or two later for $.01 or less, pay the lenders a small % fee the rest is FREE MONEY!
Even if the share price rises you can hold the short open because all these OTC's tank eventually. But they rarely ever rise into profitability as people sit and wait to buy more for less to cost average. They WANT that to happen.
This is not bashing a stock, it's just how the game is played.
You make money buying back what others are buying to cost average. Play with the house not against it. The house never loses.
Havn, Also people have to know that in order for shorts to appear on record they have to be registered as shorts. Shorts knowing full well they will soon be getting debt shares will actually sell shorts disguised as longs so you won't see that data on FINRA.
Selling shorts disguised as longs is illegal however the fact that those who did that also know the company will issue those shares for debt conversion and negate the shorted shares as those issued debt shares will cover the longs sold.
CNS continued net settlement.
NO ONE would ever sell short disguised as longs unless they knew full well the shares sold will be covered by the company under the debt conversion rule.
:)
400m short is not bad news for the company, it's bad news for investors. The debt conversion investors will pay debt and acquire the needed shares to cover any shorts but for much less than what they were sold short for. It does not mean the price will drop as long as there are buyers on the asked.
Adding the 400m to the float to cover the shorts and not have a squeeze from taking place, means more shares have to be taken out on the asked to see any rise on the bid price. It will take longer and be more difficult with 400m added to the float used to close out shorts.
If they shorted 400m for $.10 regardless if the price rises or falls the shorts are covered by the company issuing the 400m as debt is paid and for a fraction of the shorted price. That debt conversion will prevent any short squeeze from ever happening.
This way the shorts make money up or down and the company debt is paid to a 3rd party note holder (usually the CEO)
If there is no asked pressure the only ones who will make money are the shorts and the CEO. BUT BEWARE! if the shorts have unlimited shares to dilute into the float, they can spiral the price down lower and lower to prevent any investors from selling at a profit.
Anyone cost averaging will be buying more debt shares for less allowing the float to increase and more dilution, killing the price.
That death spiral is not good but well have to wait and see.
Decent float for now and not do much debt YET.
Share buy back should send this to $.25
$300 = 1m shares $.001 is $1000.
Entry level here. eyes on it.
Agreed! but no dip.
IHUB data is slower than TD. So far so GOOD!
TD spread shows $.0001 AWESOME!
ALL OTC's are dumps. You just have to know which ones to buy and when. AND when to sell.....
Pinkies may be stinky but this stock hitting a 3x to a penny will happen sooner than Amazon $3400 hitting $10,200 !!!!
TD's at $.0035 Up 84%
$.0034 TD Sweet!!!!
$.0033 TD shows more then Ihub :) NICE
Now $.0032 :)
TD shows $.0031 - EOM
A high bid volume and low asked volume means the market makers may be looking to load up on shares so they have inventory to sell higher.
They have to pay more on the bid to be able to sell more on the higher asked.
:)
How what will help the stock?
Sure it will. Not because of the increase but because of the amount. There are way to many suckers buying that allows a low play to make $$$$
Interesting ticker! Eyes on this one.
This not a short play or long term. Get in with $100 get out with $150 minus the $12 trade fees so you net $38 (38% not bad)
I'm watching the trades. Why do many only show ONE share traded?
BITF's OTC listed phone number is BNY Mellon bank. It looks like a major bank just entered the bitcoin marketplace!!!!!
Watching this one move!
Up 14%? And still no one can sell at a profit.
"All Aboard?" The TITANIC! LOL...