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Looks like mm is buying without showing it on the bid.
The bid has been 10K x 0.005 for a while, but the volume has increased by well over 200,000 shares.
Yes, it's understandable. I'm one of those, who's been averaging down. Luckily I didn't buy all the way at the top of the run, but this unreasonable drop in pps was too good to ignore.
One major difference: I've never posted negative comments and have tried to get anyone to sell their shares at the lower prices.
Agree! The "ask" and the "bid" slowly, but surely are getting stronger.
In one of the emails Warred has stated that Megola is going to start their construction next month. Warren has met with some of the crew: "great people" (his words).
When somebody emails Magaly and asks for the non-public info, she will not respond. So far we know that myself and other posters emails were returned promptly by Magaly and Warren.
According to Magaly, we should receive PR this week. Of course there always could be a few days delay, I wouldn't discount that.
If the PR has some tangible news, the company is in a "quiet" period. That could be another reason why nobody heard anything from the co.
In my experience shorts are making a special effort to bring the pps down when they know the news are coming.
I'm glad I've reloaded and then some. It's held the 0.09 support. RSI is at 74 now. All is good.
Who sold 7,310 Shares for $36.55???
Most likely it's MM, who is playing games.
Hopefully they have something material and positive to say.
We haven't seen any non-event PRs from them so far.
I've emailed Magaly. She has replied promptly:
"We are working on getting a press release out this week"
All good news and great news are yet to come.
I've done some digging into the background of the co today.
Here is what I've found:
Magaly has became the CEO of Megola a year ago.
"Having announced late on Friday (November 15tn 2013) the completion of their restructuring plan, “reinstating shareholder value” is a focal point for Magaly Bianchini, the new incoming CEO..."
What I've also learned that last year a few toxic finance cos were still holding MGON stock since 2011 after being in bed with the old management for more than 3 years.
Looking at the huge increase of volume for the past several weeks,
one may wander that perhaps these toxic financiers have already damped their shares and the stock has stabilized now.
"The mere fact that Megola failed to book a single penny in revenues during their fiscal year ended July 31, 2013 is overlookable since they didn’t spend a penny on a single expense during the year. With a cash balance at the end of their fiscal year equal to the same cash balance they had at the end of their last fiscal year ended, how can invest confidence not be overwhelming today when it comes to buying shares of MGON stock?"
http://www.aimhighprofits.com/can-megola-inc-mgon-rise-above-the-asher-this-week-29332
What I find very interesting is that the only Director from the old BOD Magaly has retained is Sufan Siauw.
"Sufan Siauw is currently the Chief Technology Officer of Dalian Bingshan H2O3 Environmental Solutions Co. Ltd., a Chinese ozone water treatment system manufacturer that is part of the Bingshan Group, one of China's largest diversified conglomerates, consisting of 46 different companies."
This decision bodes well with this statement (see Bllomberg
http://www.bloomberg.com/quote/MGON:US/profile ):
"Megola, Inc. has developed a series of physical water treatment devices that eliminate the need for chemical additives. The Company's ScaleGuard device uses virtual low-voltage, high-frequency radio waves that alter the scale-forming properties of the water. Megola currently has distributors in Canada, China, Indonesia, and the United States."
You're a wise man moras.
GOOD LUCK!
One of the most successful investors had been asked, how he was be able to achieve such success. His answer was: "By selling too early". Now I practice this simple rule: Buy low, Sell high.
I'm sure it will go higher, but will it do it in one ride?
I've made such mistake before and learned my lesson.
Great stock, but at this point RSI is well over 80! Fantastic ride since 10/31. Sold 90% of my shares. Will re-load at some time.
TAKE PROFITS RELENTLESLY.
MM is holding the ask down with its usual 10,000 shares at 0.0057.
Hopefully one of the investors, who was in communications with Warren, will get the feedback today Re: his meeting with the website designer.
Thank you! We needed one moderator, who is currently active on the board.
Sorry, my typo, I did mean post# 5485
We need more biased longs! :)
Would any of the moderators please "sticky note" post# 5480.
Thank you.
Bid is 0.005, ask is 0.0057, next ask is 0.007 and up.
Someone just sold 1000 x 0.0045 shares to scare us into selling.
We can see accumulation: the bid volume is continuously higher than the ask volume.
When you see 10,000 bid or ask 99.9% it's MM bid/ask.
I've done that Charliebee and have gotten similar answer as other posters, so I didn't posted it. Here is one of them:
from:
Magaly Bianchini
I just spoke to Warren this morning after I received your email and he told me that he did not say all of this as you have indicated.
Perhaps someone has their own agenda?
My question was:
From: XXXX
To: "magbian@yahoo.com" <magbian@yahoo.com>
Sent: Tuesday, November 4, 2014 12:12 PM
Subject: Please respond
Hello Magaly,
Someone just posted this message to discredit MGON.
"“Green Relief signed a memorandum of understanding with MedCan back in Feb to obtain financing for our project. As off yet there has been no financial assistance from MedCan..”
“we have gone to other sources to obtain capital for the build and are approx 60% completed ?the first 30,000sf and have our building permit application submitted for the 2nd and 3rd structures totaling 400,000sf. We are in the process of lining up our pre-license inspection for the beginning of January.”
“We are very excited about the prospects of this new industry and have taken our business model from a purely clinical application in hopes Health Canada will use our business as a standard of what the industry should be…”
“I hope this helps. Have a great day, Warren Bravo”
"Sent from my BlackBerry 10 smartphone on the TELUS network."
Thank you very much,
It's very true, there WAS pump and dump.
Yes it WAS. That's why you can get in cheap now.
At this point we're looking forward.
O/S Apr.23.2014 = 88.9M
O/S July.31.2014 = 88.9M
88.9M X 0040 = $355k MCap
ASSETS: $2,500,000
Liabilities: $205,000
=Net Assets: approx. $2.3M
BOOK VALUE = ~.0250 w/ 88.9M o/s
We're doing our DD. Some posters here provided a very valuable
CURRENT DD AND WENT DIRECTLY TO THE SOURCES.
THE CURRENT COMPANY DEVELOPMENTS ARE LOOKING VERY PROMISING.
The guy at the trading desk would not have any idea whether ETRADE has shorted the stock.
The fact is that the more conservative brokers like ShareBuilder and Fidelity have never limited trading MGON.
I'm not going to sell any of my shares at these prices to help you to get even cheaper shares. Those, who have disappeared from this forum, have already sold. Those, who are here, have done their DD and are holding on to their shares.
Obviously you're here, because you want in.
Re: chart. What we have today is a Long Legged Doji. If it appears at the time the market is in a bearish mood, it may be a good sign: Bullish Reversal.
Hopefully we'll start getting something positive soon:
tomorrow - Warren re: the web site) and the Update next week from our CEO.
100% agree with your analyses!
" I just get this feeling in my stomach that this is the way it will fall into place. Cheap shares and patience is what one must have here. The cheap shares are readily available right now. It is the patience that some seem to lack. I feel opportunity knocks here and one must have some foresight beyond two day profit."
I put my order in at 9:26 for 0.0055. I don't mind to pay a few more extra fractions of a penny, but I want my fill.
You must be kidding! I bought 500,000 shares today.
From my first DD I liked the fact that Megola has a very experienced, successful management. This is not their first big project and they know how to handle it. Not just the project itself, but all negotiations with partners.
They also must have experienced team in place ("great people" according to Warren). IMO, it was very smart move on their part to partner with Green Relief. I wouldn't be surprised if other co's wanted this partnership as well.
"Paul T. Wylie, CEO of Med Can Marijuana Inc., says, “After reading Green Relief’s license application to Health Canada, I knew that I wanted to be working with the Green Relief team. The fact they are known for their experience and for applying organic technologies made me jump at the chance to be involved."
Lets do not shortchange Warren, after all the first building is almost done. They've got funds for the construction somehow... or, perhaps, it's Megola's builders at work?
Per our CEO we may get an update sometime next week.
So far I have not sold even one share. I will keep holding and adding.
In my opinion, those, who are treating MGON as an investment have a good chance to make a fortune.
MOO and everyone should do their own DD.
Very good point! They are already asking for the inspection any time after January 15th. I like how open they are and are willing to answer any questions.
THANK YOU Johniefive AND letj21 for your EXCELLENT RESEARH!
At this time, as I said before, MGON is not a speculation, it's a VALUE play.
At this time it's a value play.
Added today at 6. Will add more, if it goes lower.
Once it will start running again, IT WILL GO UP 100% and up per day.
Everything that MGON has been saying now is confirmed by Warren Bravo.
Just the fact that MGON is supplying the air/water systems for GREEN Relief IS ALREADY A HUGE DEAL. Because it's validating MGON technology and it's a great advertising for the co.
Other deals should follow.
MGON $.25 Book Value, Tiny Float.
The WEB site is coming SOONER then later.
One of us can make an appointment and see the construction. Photos from Warren would also be great. (Lets do not take too much of his time).
They must be VERY SURE they will get the license, if the construction is already underway big time.
D.C. approves pot legalization
http://www.politico.com/story/2014/11/dc-approves-pot-legalization-112549.html
True, but MGON could start running much sooner. Canada Health may issue a huge catalyst at any time. What we know is that MGON has already past numerous inspections.
If some don't believe the CEO, they shouldn't be here.
Yes, Volume before the Price.
They don't have a reason. My guess is that a lot of penny stock investors are using these brokers and at this point they do not have any more shares to sell. I use Fidelity and there no restrictions of any kind.
DITTO!