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DNNC - Nothing there .0019-.002 easy
Did maybe 2 million shares just take this from .0038 to .0031
Not seeing any sellers either
Probably nothing because apparently they had no money before the reverse split and probably have no money now
Would you mind posting that email?
At least there will not be many shares to dilute after this reverse split. I feel that the only way this stock could be saved would be for excellent customer numbers in the next PR, along with an excellent funding deal. If either of the two are not met, then this one will have no chance until better numbers are reached.
On a side note, if the A/S ever gets raised again in the near future, I will have lost all respect for the CEO, what little is left that is.
I would say based on the trading today there is potential. If this were a true pump and dump, I feel that we would be in the red today, however, we bounced back from a big down day yesterday and are sitting green, which is encouraging.
Let's hope we see another blast off after this double bottom
Looking for a big day tomorrow here
That's crazy. I just don't know how we are trading that many shares a day with that kind of O/S
You are diligent with your work, however, most if not all playing this right now have no interest in the company and are only playing this as a squeeze play, as you probably know.
Very thin here
I believe it is. Put I also believe, as many have posted, we have a shareholder with millions of shares dumping at the market price and later buying up cheaper shares and it just continues. Lots of weird things going on here
Good post. Buying in the AM will be very positive and if it does dip I feel that it will shoot right back up so I would be careful with stop losses.
Good luck to everyone tomorrow and the rest of the week
Good point. This could go either way tomorrow and I feel like tomorrow will be a big indicator of where we are headed
I still don't really believe the O/S is just over 4 mil. In the intro message the O/S is listed at 2,125,672,976 as of May 27, 2010. I'd say some dilution was thrown in there after, maybe raising the O/S to between 3 and 4 billion before the reverse split. I'd say the O/S is around 30 to 40 mil based on this, but you are right, the large volume is very interesting to say the least
Very nice. Hopefully you're right!
What gap?
Hopefully that brings in more money
Nice of you to join us
Break through 4's and we're good, third times the charm
Market Makers are looking to buy, not sell. Even the smallest buys are making this go up
You said...
"the fact remains that the company did not file any details about the split, so the A/S remains at 4,000,000,000"
While this may be true, one IHub user claims to have been told that a reverse split registered in Nevada will effect the A/S.
I see your reasoning and you may very well be spot on, but until there is word from the company or clear information stating the A/S and O/S, I would not say with 100% certainty that the A/S is 4 Bil.
Be very careful with LCRED if you plan to play it. I along with many others got burned hard as the CEO dumped about 10 or 15 billion shares as everyone watched the price drop to no bid status. Then this current reverse split ended up being 1:10000, pretty much killing every long term holders position after he said no reverse split in 2010. The product is good and has potential in the future, but this would definitely be a short term bounce play in my opinion.
Haha yeah I had a call in one time that went right through. Luckily for me
I'm not 100% on this, but I believe that is their policy for all "D" stocks. Don't quote me on this one though, hopefully someone else can verify
Not sure if this has already been posted here, but gonzilee over at the jailhouse brings up a very valid argument for why preferred shares would not be dumped right now...
lol. well, considering that ssptd ceo and the coo own the preferred shares and that the ceo to his own admission said that the r/s was an effort to cure the naked shorting he believed was occuring, what sense would it make for them to "dump" billions of shares immediately after the r/s? that would be stupidity of the worst kind. additionally, the company has announced a divy that is to be issued in january, and it would be illegal for them to change the share structure, which they are basing the divy payout on. so, why would they be dumping shares when their divy has already been approved by finra? makes no sense. the naysayers do not speak of these impediments to their theory of dumpag/preferred conversions. why? because they have no answers for something that does not make any sense.
Many have said that since there is a dividend coming (supposedly) that the O/S cannot change because that is what the dividend is based off of. If this is the case, then wouldn't it be illegal for them to change the share structure, by dumping preferred shares? So at the current time it wouldn't matter what the situation is with the preferred shares since the dividend has been approved by FINRA, would it?
Exactly. At least read the stickies before posting
I believe it closed at .002 on Thursday, with a 66 percent gain
Based on the Ibox information, the O/S was 2,125,672,976 as May 27, 2010. Obviously the A/S was 4 bil, so with ongoing dilution, I feel that the O/S could have been somewhere between 3 and for 4 bil going into the reverse split. If that is the case, I could see the O/S at 30 to 40 million, but I wouldn't complain if it somehow was at 4 million
If what is being said is true, then very possibly yes
Good point
It is speculated that the extremely high volume was due to the fact that pre-reverse split shares were being sold into the market, driving the price way lower than it should have been. If this is true, those shares must be bought back, shooting the price much higher than it is now.
Some believe this may be like GBOED, so there may be a lot of upside do to the fact that brokers messed up on their end, not the fact that we have an amazing company or the chart looks nice here.
True. I find a lot pennies throw that out there when the price declines. Usually an excuse for an underachieving company or dilution or lack of performance. Usually not good things
The company itself may not be a gem, but pre-reverse split shares may have been sold, creating potentially a massive squeeze. That's why people are playing this here
Well it could be diluted to heck, tanking the price even more than it is now, or it could skyrocket because many pre-reverse split shares were sold today, meaning way to many shares were sold into the market today, which must be bought back next week, especially because of the divy coming
Oops yeah, based on math its 40 mil, saw 400 floating around earlier today
Same. I was about to sell at a small profit today, but since I had to call it in, said heck with it and let it ride. Hopefully it pays off
One note, 1 to 100 is 0.01, not 0.001, so the A/S is around 400 mil, but in any case, we were still over the A/S in shares traded today