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The oil industry can be very rigorous. Probably the only way someone would buy them out is if they can prove to be competition. Let's be fair here, their quarterlies have been pretty horrendous. They would need to take some serious chances to succeed and now is the time to capitalize. I have made the comment before, however, that they seem quite content where they currently are. The COE gets his 120k a year
I'm still waiting tight for a bottom to form. Volume slowing is a good thing. The A/S increase... Not so much. Watching for dilution very closely here. Patience pays
I'm starting to think that Ed doesn't even know when things are going to unravel. It seems like he is guessing at somebody else's success to swindle investors into something that they can't prove to begin with. By the time anyone can prove anything, he is going to be living at his brand new beach house in Fiji
Ed: Anachronistic
No person would choose shares over a set income. Why would anyone would want to gamble with their family's future? The more logical answer is that MYEC doesn't have enough cash to pay them all salaries which last time I check was bad for the business and bad for the shareholders
You would think the pros were smart enough to use proper grammar lol
That or your getting disappointment in a box. Merry xmas
Moment of truth coming. Who will be right, the Bulls or the Bears?
I did and the only thing I could find is a list of Malaysians
Is U-mobile even MyECheck?
Welcome to the pinkies. They are all poorly ran. The risk/reward is why we are here. Its just a game of money anyways and dilution is our greatest enemy
Gotcha. Hard to tell without a voice sometimes ;)
He can sell his restricted shares after his lock-up period
Lol true
Anyone who has ever owned their own business knows you can't splurge on luxuries until you are profitable in the black
End of discussion? Lol that's almost the same amount of money spent on furniture as spent on computers and technology. For what, like 8 employees, that's saying a lot more than your willing to contemplate
I hope so but he doesn't have the best track record around
That's a fair point. As to the loan, if they saw success while testing it and knew that it would generate enough cash to pay them back plus interest, then I see no reason why not. Maybe there is a law in Africa saying they can't do that but Africa is pretty minimal in laws
Someone ask Ed on Facebook what he could have possibly spent 50k in furniture on
Sure but if that was the case they would be buying way down here, not when the/ if the run starts. You would think that they would at least consider a loan first though
So we will hear on the... 10th? On Facebook that something went wrong?
That would make sense
He seems to be very interested in shareholders
Interesting website
There is almost always a promo down here in stocks with some momo. It's not paid by the company but just front loading by an investor. That's just a reality you have to face when trading the pinkies
I am curious to how they spent 50k on furniture. What did they buy a bunch of mahogany desks? Maybe it was a brand new dining set for his lake house
I'm glad you can see the objectivity. Most people just jump to conclusions and start calling names. That puts you a cut above the rest. Best of luck to you
That and another positive thing I did see is that Ed is wising up and taking smaller loans from private investors. He has to lose the toxic loans from "credit master funds" if he ever hopes to survive. They look for any chance they can get to sap out money and they got an extra 187k out of the company in court. Starting transactions is important, but reaching max A/S is not. I do feel like we will see a 100-1 RS soon if the convertibles continue. That isn't always a bad thing, but it is very easy to screw up
I'd have to agree there, the risk/ reward is quite high. For the sake of everyone here I wish the best but you can't ignore the signs
You may be in trouble when a technology company spends almost as much money on furniture as they do computers and equipment. Plus, 1m+ in convertible notes and TCA is eating this stock alive. Ed just can't stay out of the court room!
Red flags are everywhere and have been the whole time. That's why you read the filings and not Facebook ;)
Most of the time you will see heavier volume on red days. Nothing is different about this stock. Up and down, up and down. You just have to recognize any patterns and build a strategy off that
I hate to say it but I think there wasnt any shorting done by MMs here. Only shorting done was by day traders (as in time of holding not borrowing). After all, the MMs job is to make to create a market in which trades will occur. They do get paid by transaction
I have found throughout my life that anyone who calls someone else ignorant is the one that truly is ignorant. I have no problem with you being bearish, but if you insult other then your not wanted here
How contradictory to your words
Short squeeze doesn't mean shares that were borrowed. It means short position holders sold too early and will have to cover at a higher price. This happened today by definition
It's best to do neither. Short and to the point is best
Is that so?
As of what I found, they have a 14m deal with a Turkish company waiting on FDA approval. They were successful in cutting 30% of the operation costs (as seen by the previous downtrend) and are working towards a brighter future. They did increase the AS to 500m recently but that was voted on by shareholders for non-dilutive purposes. In addition the PPS is grossly undervalued. When (if not currently) a bottom is found, the fundamentals from a graphing standpoint will point to a strong buy
I would expect the same. With how transparent and up to date this company is, I'm sure shareholders will be informed shortly