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Where are you getting this par value from? It has sold lower than here. Also, did you happen to notice that they changed the shareholder voting rules so that they could increase the AS or declare an RS without a vote?
The modest bounce just happened, I got in at 9s and sold at 12s
They have the ability to convert. While they have notes to still convert, they can continue to short and then convert to cover. The shares are there ready and waiting when required so no need to have a margin account.
This is not a game for retail anyway, no way the normal investor could play these games.
They don't have to keep margin, they own 100s of millions of conversion. It's also no risk for the same reason. There will be no short squeeze for again the same reason.
Noteholders get away with it because they aren't naked shorting as such because they have the ability to convert at any time
You're not getting it. Dump short and then finally leave it at no bid and convert. As long as they keep the game going until they've maxxed their conversions, they make lots
No bid = 0.0001 therefore conversion at 0.000065
Wow, that is a whole load of debt
If you shorted the stock for 14 days and then killed it down to no bid on the 15th and declared a conversion to cover, that's the best way of making the most. You'd be covering your short trading all sold between 0.0008 and 0.002 with shares bought at 0.00065. Not a bad deal
So unfortunately they can make a lot of money at any level. However, if they push it too hard, everyone leaves and the game is over so they will probably let this run next week
With a couple of edits. It's the 15 days prior to conversion that count:
The Notes may be converted by the Investor at any time into shares of Company’s common stock (as determined in the Notes) calculated at the time of conversion, except for Note II and Note III, which require full payment of the Secured Notes by the Investor before conversions may be made. The Notes (subject to funding in the case of Note II and Note III) may be converted by the Investor at any time into shares of Company’s common stock at a price at a price equal to 65% of the lowest closing bid price of the common stock as reported on the OTC Link ATS owned by OTC Markets Group for the 15 prior trading days including the day upon which a notice of conversion is received by the Company.
It is not the 15 preceding days of the deal, it is the 15 preceding days before the conversion. They can make money at any level
It's CDEL on the ask that should be watched. And VFIN. And now CSTI
A good start would be if they got the trade halt in Canada removed. It's impossible to buy or sell up here
I'll be convinced when VFIN and CDEL leave the ask
Lightly touched, hardly a pounding yet. Nothing over 1m yet
Late massive bid slam on 7s in the pm. They have replayed this same game every day for several days now. Slam it in the morning, wait for bid to build and then hit it hard in the pm. And down it goes. I don't see any difference today than any other day
So what proof do you have that they won't just slam the 7s on the bid this afternoon?
Based on what, wishful thinking?
I've thought that many times and then there is a massive bid hit and it goes down again.
They'll just cover with the dilution and leave and then this will be a shell going to no bid. Then RS and start over
It would just go down quicker, no? I think people ( including me) are starting to get the message now to just let this go down
No caps anymore? Has this one kicked you too many times?
I have no idea, it's a continual loss. They must be waiting for that bounce you are mentioning but it's not happening, just keeps pushing on down
That's the problem though, no point jumping in now if it is going to be a bounce from 0.0002 or 0.0004. It would only make it back to 8s or 9s anyway
But from where? .0004?
I have been ever hopeful and optimistic but now I have to agree. They are beating this down with no stopping. People must be crazy to jump in at this point
We shall see tomorrow
I agree, I also saw the slowdown and that the 11s were thinning out. Hopeful for a turnaround tomorrow.
Ask is thinning out finally. Maybe this will recover today
Only to maybe buy that product on the cheap and leave the debt ridden shell of a company behind with the shareholders
If it goes to 6, it will go lower. I made a killing between 0.0002 and 0.0015 recently
I see one and I figured that was someone playing a joke
Not really though, just a moving target. Bid has also disappeared at 11s though. Looks like everyone is out of ammo. Interesting to see what happens next
So, when are you starting that? All I see is a drop to 11s/12s again
Selling is not an endurance test where they have to take a rest. They will continue as long as they can convert and make money. That does not seem to have an end here
Definitely not today but who knows, tide could turn. Certainly looks crappy with 7 MMs lining up at 13 right now, that's a big wall
They told me they would prefer me to contact the company and implied it was their policy. They are gagged and that's never a good sign
It's always in play with these stocks. This is a stock to flip between trips and mid-001s imo now and then the volume will disappear.
The RS will then come much later to reset
Not really. They haven't let up at all. There's opportunities to flip for a few ticks up but no big run here, there's just too many shares out there now for that to happen