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Yeah, theres still some dumping going on but according to Equity Feed (the service provider I use for L2), the buy to sell ratio has been about 10 to 1 over the past week. At this rate we should be able to chew up that 6 billion by Easter.
That'll be the next step once the 10Q shows the new O/S.
Because at 16 billion outstanding, you'd have to get the volume way up over a billion to justify any sort of movement.
Agreed. Volume in May averaged around 5 to 6 mil traded per day and the pps was around .002 and spiking to .003. Since then the volume has ramped up as the pps has dropped. Yesterdays 400+ million traded with virtually no movement in the pps. That can only be dilution.
This from a site called M2...
http://www.m2.com/m2/web/story.php/20095E047228DFFD475E80257660000343C9
Shareholder Opinions Requested After Dr. Gadget Returned to EXTRA: Review Initiated by Online Financial Magazine and Investor Social Network
www.PinnacleDigest.com is a performance-driven online financial magazine and social network with a proven track record. After yesterday's news from Seamless Corp. (OTCBB: SMWF) which announced that Dr. Gadget is returning to EXTRA with over $100,000 in the latest consumer products for The EXTRA...
If you want to view the full text of this story, you must first purchase archive retrieval credits.
Wow, did they really just come out and start diluting again today... when we just got buried with the worst financials I've seen on a company. The bodies aren't even cold yet.
I'm down. Bring it on
But how do you add 10x value? .0001 to .001 on a straight conversion?
Reda has already mentioned that GDT Tech will debut at a pps of .001 with 11 billion shares. What was not mentioned is whether that is the O/S or A/S count. If we can assume an A/S of 11 billion, then this is how I see it breaking down...
A close of .0001 on the last day of trading for SMWFE will require a 1 for 10 R/S to get GDT Tech shares to .001. A close of .0002 will require a 1 for 5 R/S. Scenario #1 results in an O/S of 1.1 billion, #2 gives you 2.2 billion (this is assuming a current O/S of 10.3 billion since nothing new has been announced). I would like nothing more than to see a straight conversion of shares from SMWFE to GDT Tech, I just dont see how else it can be done. If Im missing something please hip me.
Scotty is also now showing the ask at 2 with a 0 bid. L2 shows 3 x .0001 on the bid.
Thats what Im showing. Scotty has had the O/S listed at 10.3 until today. Hard to know what it means if anything after the kind of dumping we've seen. Still, you can't help wonder / hope, that it has something to do with their share buyback program.
Can anyone confirm that the current O/S is showing 7.3 bil, down from 10.3?
Trying to keep people bidding @ 1 so they can close low.
Please post findings. TIA
Hard to say for sure. I don't look at pinkies as investments, just trades or "plays" to jump in and out of during a run for a quick profit... so the companies goings on never really concerned me in the past. I got stuck in SMWF when the charts were pointing to a run back at the beginning of August. Remember when it hit .0003 briefly? I loaded up at 2 and here I sit. Not my style, but I digress. Because Im not a fortune teller, I'm going to wait for the symbol change and inevitable R/S and see if Reda might surprise us with a couple of well timed PR's associated with the new company. Maybe that generates some momo and gives us an opportunity to exit. I wont take an automatic 50% loss. I would rather chance taking a 60 or 70% loss after the R/S against possibly breaking even or making a profit after all of the brain cells I've burned on this one. The question will be... do we close at 1 or 2 on the last day of trading for SMWF? I currently trade with Scotty who has put a hold on buying SMWFE (Ive heard great things about lowtrades.com and am planning to switch), but anyone out there who currently has shares, and is able to place buy orders, should do everything they can to be the last trade on the last day with a buy at 2. Even if you only buy a dollars worth. You'll help yourself out along with the rest of us. If not, a R/S at 1 will be absolutely brutal for all concerned.
BID 0
ASK
2 @.0001
7@.0002
2@.0003
It means they didn't file required paperwork in time and is a red flag for investors.
So if this is a legit document...
In order to get from .0001 to .001, it would require a R/S of 1 for 10, which would leave an O/S of 1.1 billion and an A/S of 11 billion?
Brutal
The bid came back then?
The only thing that has a chance at getting this boat anchor to budge after the kind of dumping thats been going on the past 2 weeks... is news regarding the share buyback program or debt reduction or positive earnings statements, etc. More news regarding Dr. Gadget is worthless since he has his own website where he sells his products. Something $ubstantial is needed in order to get the markets attention.
I'll be over here holding my bag.
lisacans. I notice you've been posting here a long time. Did you cash out during the run in September?
That sums up everyday since early August.
Again, why aren't the products that are available at drgadget.com available at gadgetenterprises.com? Why the need for two websites and no mention of Seamless at drgadget.com? Obviously Seamless is being cut out of the profits. The entire arrangement makes no sense.
ASK: 3 x 1 BID: 12 x 2
Record date is Sept 15th. That gave them about ten days before dump began. I wonder if the A/S could have been dipped into within that time frame.
I'm shocked
Unfortunately I think were going to find out sooner than later that the A/S has become the O/S in order to pay for the exposure. Let's get on with the R/S so at least some have a shot of getting out for little better than a 50% loss
Drying up the BID is the only way to stop the bleeding.
L2....
BID 0
ASK
5 @ .0002 x 5K
1 @ .001 x 5K
2 @ .01 x 5K
1 @ 2K x 500
Anyone else notice.....
How thin the bid and ask is across most of the Pinkies?
Anyone have an explanation?
Email serves as a written request? They're not talking about a written letter via snail mail?
I hope its not true but my gut tells me that they're blowing out the rest of their A/S for the giveaways and other promotions. Whats left would raise them nearly a million bucks at .0001
Then name change,symbol change... R/S.
We'll know in a few days when financials come out. Im hoping we don't see that theres been an increase in the O/S to fund OTC's recent promo.
What do you think the reason is for those products not being available at Gadgetenterprises.com ? I mean, if Seamless is going to make any money, don't they need to sell something?
Bid Whacking?
The products that are mentioned in the news release are not available for purchase on the site. See how they're missing opportunities? Millions of people are going to watch the view, and when they go to purchase the products they saw on the show, they'll be giving their money to other distributors. Extremely poor management. Its becoming painfully obvious why this stocks not going anywhere.
I guess I didn't invest enough freakin' money to get a website in English. My Mac didn't come with Pig Latin plug in and the word is tomorrow... not tomarrow.