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I hear what your saying and get your point, and as evidenced by the price action you are correct, but the problem is you can't expect the company to be dropping news every other week, it just doen't happen that way. The bid/ask is now down to .0041/.0046, I would think that those who bought in higher this past 1-2 weeks would be buying this dip?
Today is another good example of those cheating mm's. They drop the price 10% (.0005) on 70K shares ($35 trade), then drop the spread again to .0045/.0050. On last weeks uptrend, they tightened the spread real close and it took millions of shares to drive it up to .0060, but now they can drop it just as quickly on piddly little trades? Guess I'll stop looking intra-day from here on out, and just check in for the open/close each day in case they drop some more news. If it goes below .0050 I would think those that missed the last run or bought in higher would jump all over this.
With the large spreads the mm's use on OTC stocks, who would be stupid enough to place a stop-loss order? I think it was just someone who wanted out today, or was lightning up on a position and the mm's dropped it like a rock taking advantage of the low volume. Notice that it bounced back just as quickly though showing good support. I suppose we will just have to endure more days like this for awhile until the next event, just the way it is in OTC land.
MM manipulation at its best going on today, they drop it on 10K shares and widen the spread. Let's get some more volume on the ask going to stop this manipulation!
If exercised, the company issues new shares. Apparently they were bought at .003 and must be converted before 7/22. If converted, then what are the options, hold for higher gains down the road or sell now for a small profit?
Fixed my typo, meant to say in the right direction.
We can't expect them to pump put news every couple of weeks, the last PR we got was the one that finally kick started the price in the right direction reversing the drop in price from the prior PR about the pool party. If Mo had released these 2 PR's in reverse order, I think the reaction would have been quite different, especially for the pool party PR. At least we got some new buyers this past week which has taken us to this level, need to hope that volume doesn't keep dropping otherwise those dirty mm's widen the spread to take advantage of the low volume which makes it vulnerable to dropping in price faster than normal. Mo said the party has started, I'm sure we will start to see more news and social media in the coming weeks.
But they have to be converted by 7/22 or what happens?
How do we know if these warrants are still outstanding or have already been converted? If they are still all outstanding, with the current price at .006 I would assume all 33 million would probably be exercised? I'm not familiar with warrants, but I do know that these would be new shares issued by the company if exercised.
Already have a double on my 1 million re-entry at .0029 last Monday and now positive on my original position, many would probably take it and run, but I will hold for multiple pennies down the road. Maybe this will turn out to be the gem that GM has been talking about after all.
If the 2 recent PR's would have been released in different order, my sentiment would have been entirely different. When I saw the quarterly report numbers showing the low cash on hand and inventory numbers, then the PR about the pool party, I lost confidence and looked for the exit. However, the second PR is the one that gets me much more excited and gives me confidence going forward and tied together with the first PR it all makes sense now and it shows that they must have the necessary funding available to buy inventory. Anyway, whats done is done and I am content with my position going forward and will probably accumulate more on the uptrend. I apologize for my many months of ranting my frustration, so positive is the way forward from here on out regardless.
Feels like its about to explode at any moment with a surge in volume, but this slow-and-steady daily advance is probably a more healthy advance that had more sustainability to it and keeps the day traders from jumping in/out.
After nine months of holding this in the red, I'm finally back to breakeven today, now it's time to get the party started!
Once they dilute at .0001 it is game over!
you may be right, looks like we have liftoff finally!
I'm curious as to how they funded inventory, guess we will find out in due time. The last quarterly report only showed $1,800 in inventory, my assumption is that they secured funding to build inventory in support of the new distribution deal disclosed yesterday.
EQLB was at .0041 last week before the big news on the distribution plans, thus this should start moving higher. Someday soon maybe .004 will become support instead of resistance.
The '3rd piece" Mo had been referring to must have been securing this distribution deal which I assume would require having sufficient inventory in place, thus they must have secured the necessary funding to build up inventory. To me, this is the best news that they have provided since I've been in this stock. It was weird that there was no initial reaction this morning to the news, so I bought back 1 million shares that I sold last week at .0041 at .0029 today. Time to get the party started this time!
Yes you are correct, nobody should expect to see sales show up in the 2nd quarter results for April thru June, they should start showing up in the 3rd quarter which begins in July assuming they now have inventory.
Wow, the best news they have had yet comes out and over a million shares have traded at .0029 without even budging the price? Very strange non-reaction to the news, this should be much higher. Assuming they now have sufficient inventory which they must in order to secure a distribution contract with a major player, sales will be coming in the quarters ahead which will eventually move the price. Would just like to see this major news pull in new investors.
Great news, but no initial reaction? At least the good thing is that they must have found a way to fund major inventory seeing that they got a distribution contract like that.
Bones, I'll bet you that the next PR that eventually comes out from Mo will be something like, "we experienced a 300% increase in sales" after they throw this 2-hour pool party and sell off their remaining inventory of $1,800. Summertime will be what you are looking at today, the stock will drift on little to no volume and each time it hits this level, the kids will flip it for beer money.
Mo gives nothing but a couple vague and misleading PR's a year, he will never provide the real story, only misleading words like "we are a leader in our industry", how does one say that with a couple hundred bucks in sales?
What would we do without Pete providing copies of PR's we have all already seen and our daily charts showing the stock going nowhere? A couple of comments on yesterday's PR:
1) “The Flamingo Hotel and Casino in Las Vegas will be the first hotel in the Caesar’s Entertainment Corporation group of 50 hotel properties to feature “Last Shot”, where it will be branded and sold to around 8,000 party goers and tourists a day,” says Owens. “Our sales with this vendor will increase our revenue tremendously.”
- it should say where it will be available for sale to around 8,000 party goes and tourists a day, Mo's words insinuate that all 8,000 will be buying it.
2)“This beverage continues to gain popularity across all demographics and is rapidly becoming a leader in its category, “ Mr. Owens continues. “I’d like to personally thank Steve Sagan, General Manager of The Flamingo Hotel and Casino Go Pool for helping us develop this mega event and making it possible.”
- how can it be rapidly be becoming a leader in its category with only a few hundred dollars in sales? Again, his words in his PR's are very misleading.
What I would be most concerned about is how much inventory do they have for sale since the books only showed about $1,800 in inventory and basically no cash available to buy any more as of 3/31. The only way that picture could change is 1) take out a loan, 2) sell stock to raise cash to buy more inventory, or 3) Timbaland to provide the company a loan himself which I highly doubt. So unless this picture somehow changes, and I highly doubt Mo will ever provide the details himself meaning we will have to wait for the next quarterly report to find out, Mo will probably sell the remaining $1,800 in inventory, then put out a PR sometime down the road touting a 300% increase in sales. He did it before so he will probably do it again!
Jeez, hope I can make a buck when I exit this week, but its not looking like it is it. I know one thing I've learned, NEVER marry and go long on a stinky pinky, but instead trade them on opportunities! I won't get stuck holding this for months on end for a loss ever again.
Dude made a statement, I am just calling him out on his own words. So why is the stock dropping if Mo is dropping the bomb this week?
Put your money where your mouth is, someone is selling and its at .0027!
Don't invite me, invite Gizzy! I was buying some of the shares I sold at .0041 back at .0025 Friday, I'll be dumping them minutes after the news comes out believe me! Welcome to stinky pinky land, I've learned the hard way how to pass the trash.
When's the wedding?
For me the disappointment was that the cash and inventory values totally sucked, thus we have no visibility how they plan the fund the "real" product launch. The sales were also expected to be higher based on SlowMo announcing "product launch" at the beginning of the year across many venues in Vegas, in reality it now looks like they only had very little inventory to sell, thus his PR now looks to be very misleading to most.
To me, cash to buy inventory is the key. They would either have to put up their own cash, take out a loan, or loans, or sell stock to raise the cash to buy inventory, guess we won't know till they tell us, or wait to see what gets disclosed in next quarter's report.
It's alright with everyone I'm sure as long as he ends up providing value to the company equal to or greater than the shares he was given for free.
Based on my count, he got anywhere got anywhere from 170-300 million based on the reported increase in the outstanding share count this past year. I don't believe they ever disclosed the exact amount of shares given to Timbaland, but by my count it is somewhere in that range. He ain't partnering for free and the only way for him to profit on his time, Mo gave him a large equity position.
The strange thing is that we do know that Timbaland is involved and was given an equity position in the company (for free) for his involvement. One would think that a person of his stature and value would not take the time and effort to "dabble" in a stinky pinky company unless he was serious about it. Cashing in the stock that he was given (170 million shares?) at today's price would equate to about $400K profit for him which is peanuts considering his overall net worth. Thus, it would appear that he has big plans for EQLB to increase the value of his own shares, guess we won't know till we see what develops down the road.
Well one thing is for sure, EQLB has lost all "Mo"mentum right now and will probably drift lower without clarity on when the "real" product rollout will happen considering they only had a few hundred in sales, and the books show only a few hundred in cash and inventory. Reading back all their PR going back to 2014, Mo has spun his words in ways to mislead people, like myself, into buying this stock. One PR even stated 300% increase in sales, guess going from $100 to $300 by selling a couple dozen more cans to friends and neighbors is not a lie, but a very deceitful PR. Anyway, as many say, it is the way of Pinkyland and we all know the risks when we buy the trash, I mean stock. If we don't get news within a month or two, then this will probably drift back down to the .001 or so level, if we do get news, then any pop will depend on the type of news we get. For me, I sold 75% of my position (at a small loss) and will ride the other 25% now just to see what happens, but in my mind I have already written it off as a loss but ya never know.
nice post Phenomenom!
I guess when he said "Let's get the party started" what he meant was he is partying on our money and producing nada! I'm now riding 25% also, maybe months down the road he will put out another bs PR for us to cash in on.
Like I said, I sold 75% of my position, about 2 million, between .0032-.0041 yesterday, the other 25% did not fill. No need for me to bash anymore, it all out there right in front of you now to see for yourself.
Unfortunately, my last 25% is still riding, I had a sell order in at .0034, but it did not execute. Guess I'll just hold and see how this pans out, but the picture does not look good to me.
Now that's funny!