Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
According to Federal Filing Regulations, Wade is supposed to file Form 4 to report insider share ownership. I never said that Wade was dumping shares. I said that Nate's diluted existing shareholders by issuing an embarrassing amount of shares to Wade. That is not the same as dumping.
What is true, unless someone can prove differently, is that Wade is an insider and the largest common shareholder of Nate's Food.
I'm not sure why anyone would want to buy any shares in NHMD, let alone millions. I do know that there are millions of toxic debt shares that are available for sale that were converted for less than 1/2 of a cent.
Wade is alive and well and is doing a good job schooling Nate on how to create a sub-penny share price, just like Wade's other companies that all descended into sub-penny status.
And, yes, there were millions of shares converted from the toxic debt last week and millions more converted by corporate insiders, the evidence being the company's November 17, 2015 8K, which stated that toxic debt holders and insiders converted 8,900,000 shares at ultra low share prices, which can be dumped into the open market at any time, deluging the bid and washing investors down the river, and more debt still outstanding that can be converted for millions more.
The Vista shares were converted at 60% of the lowest price of the last 20 days prior to conversion. That price was $.006, meaning that that portion of the Vista shares were converted at $.0036, meaning that when newbies and unsophisticants are buying at $.015, Vista is selling their toxic shares to them at a 300% profit. Ouch!
I wouldn't call a couple thousand dollars in buy orders by Nate's fan boys as bouncing back. On the contrary, the current trading activity is obviously a ploy to suck newbies and unsophisticants back into the market as a vehicle for toxic sellers to unload their holdings onto the backs of those hopelessly denying the truth of the matter.
Joseph Wade is the largest common shareholder of Nate's Food and he leads Nate around by the nose, talking over him in meetings and owning more common shares than Nate.
If Wade has sold one share of NHMD, where is the proof? Where is form 4 or 5 or 144, required for insiders to file sells and acquisition? And, I don't want to hear that he is not an insider because according to the definition, he is.
And I didn't mention a 1700 share sell because it is less than $200. It's not worth mentioning.
It was a stretch to even want to mention the less than $2,000 worth of buys being bought at inflated prices, other than to illustrate how illiquid and pathetic the trading is, and how newbie investors can be caught in the downdraft when the toxic debt holders, who have been converting millions of shares over the past few days at prices substantially lower prices, (about 15% of the current price) start dumping millions of ultra-cheap shares. Does anyone believe CDEL and the other market makers are going to prop this dog up? No. Newbies and unsophisticants will throw their disability checks down the sucking hole, believing the lies that are being perpetrated by Nate and his pals.
I personally don't care about 1PM and Nate's love affair with one another, other than to point out the obvious: Wade owns Nate, and owns most of the common shares of NHMD, and I think it is important to dispel the misconception that Nate is no longer dealing with shady characters.
And I agree: Everyday does bring us one day closer--to the day when people really get to find out who these guys really are and what havoc they will have wreaked on small time investors. For some, that day has already arrived, for others, well, it looks like it is going to take a little more convincing. Eventually, Wade and Nate and the inside gang will give investors all of the convincing they need.
Less than $2,000 in buying to move up to $.015 shows just the weak illiquidity of NHMD. It will move down with the same speed on token buying. This is likely a classic bull trap set up by unscrupulous promoters and insiders to trap unsophisticants into padding Nate and Wade's pockets. Don't fall for it.
As far as we know, Wade is still the largest common shareholder of Nate's Food, so let's give him the respect he deserves; besides, his news comes up under Nate's Food. They're definitely not moving apart.
Someone spent almost $2,000 today to paint the tape green. That was an expensive one day marketing budget to prop up a hopeless endeavor.
Desperation and denial is not the recipe for a happy investor. The bull trap is on, and I hope the unsophisticants don't fall for it.
And according to Nate's, massive dilution is underway. Tens of millions of shares are diluting down current shareholders interest in Nate's and will produce an avalanche of shares hitting the market in the days ahead.
And lastly, what's up with the Von Baron 11//11/15 press release popping up on Nate's news feed. Nate's wasn't even mentioned, 1PM was, which happens to be the disbarred attorney, Joseph Wade Mezey's company. It seems the party line has been that Nate's no longer has any dealings with their largest common shareholder, JoWad. So why is the connection so strong that the 1PM news shows up as a Nate's announcement?
Now that the shares are in weak hands, I would hope that the smart investors get out while they still have a chance.
Market Makers and Insiders make more money the longer they can keep the stock alive. These buys represent a bull trap. They are intended to suck unsophisticated penny players into buying so that the insiders and toxic debt holders have pawns to sell out to.
Where are the deals? There is no Walmart or Kroger deal. It's lies.
Investors should wise up and see the writing on the wall.
Toxic debt converting for millions of shares. Dilution in the millions. Share price sub penny. Fictitious orders. Unviable product. Promoters and crooks.
Doesn't seem on track to me.
I agree. "The company" has continued to lie.
To illustrate:
On October 27, 2014, over a year ago, the company said that "The Company currently has the capacity to make 10-12 million cans a year," and "has begun expanding capacity to 24 million cans per year." Lies.
If that were the case then why are they fiddling around with a 2500 can trial run? They deceive is why. They exaggerate to deceive investors. It's pump and dump 101.
They don't have capacity. They don't have orders. Phase 3 is an enigma. Nobody knows what it is or when it is or what it means.
The dividend was a 2 for 1 stock split that create a death spiral from $.035 to $.006, an 80% drop in the share price, devastating unsophisticated investors.
The company is only good at one thing: promoting stocks, selling investors out for toxic debt, deceiving, and tripping over their own feet.
They suck and investors have to pay for their dishonesty and ineptness. It's too bad.
On October 16, Nate's issued an 8k outlining $5 mil. in financing from Tarpon Bay LLC.
Tarpon Bay is operated by Stephen Hicks. Mr. Hicks has a history of run-ins with the SEC and Connecticut state regulators. He was sued by the SEC for fraud. His previous company Southbridge Capital went out of business due to regulatory pressure. He was also fined $250,000.00 by the Connecticut state banking regulator.
Mr. Hicks has sued a number of companies that he provided money to through Southbridge and Tarpon Bay LLC.
Under the agreement with Tarpon Bay, Tarpon cannot own more than 9.99% of Nate's. Due to that stipulation, and at the current share price, Nate can only submit a "put notice" for funds for less than $50,000, not $5 mil.
In that same filing, Nate agreed to pay Tarpon Bay $50,000 plus 10% interest just for signing the agreement. What that means is that if Nate's decides to take $50,000, Nate's will owe Tarpon Bay $100,000 plus interest plus pay a 25% stock premium to Tarpon. If they don't borrow any, they still owe them $50,000 plus 10% interest, and if they don't pay it back when it is due, undoubtedly, Tarpon and Mr. Hicks will sue Nate's, as they have scores of others.
Is this the genius management that unsophisticated investors signed up for? Nate's inability to see more than one move ahead is costing investors millions and is causing an implosion.
There is a large sucking sound right around the area of investor's wallets. The pain is real.
The "2500 Can Press Release" was most likely an attempt by "The Company" to hype unsophisticated investors into a buying frenzy.
Nate successfully hyped NHMD to .$19 with similar tactics with the now infamous "CanGate," where Nate's said that they had sold out 10,000 cans in 10 minutes, which turned out to be a lie. The sale was actually a non-arm's length, fictitious transaction, and the resulting drop in share price, due to the discovery and the deception, as well as other deceptions and fumbling, created millions in losses for investors.
If the cans actually did exist, according to Wade, they were given away. Wade joked of this during a company shareholder meeting. Even so, if it was a legitimate transaction, the product hasn't been paid for and the amount owed by Wade is still on the company's books, awaiting payment from Wade.
Of course, whether or not it was a legitimate transaction is secondary to the fact that Nate tried to trick investors to believe that the product sold out in 10 minutes to consumers and was due to high demand, which was not true.
So, it is no surprise to sophisticated investors this 2500 order could also be a farce.
It is also hard to understand why "The Company," (as they refer to themselves in SEC filings), doesn't communicate key information to shareholders within SEC filings. For example, why don't they tell the investors what they are doing with the 2500 cans? Are they going to throw away $25,000 worth of product? If so, that is information that investors should be privy to.
I bet they tell toxic debt investors everything they want to know, but the average NHMD shareholder doesn't get to demand that information. They are only pawns.
There is no way to know for sure if the sell volume even came from the toxic debt conversions. There are tens of millions of toxic debt that can be converted to shares. Given the amount of volume, I would say that we haven't even begun to absorb it yet.
More than likely, the toxic debt holders realize that there isn't any real support, and if they want to get out at these prices and lower, they will need to give the weak longs a breather so longs can scrape together more money to buy declining shares from insiders and toxic debt holders.
Here is the thing, though. There will be many millions more of toxic debt share sales in the future, couple that with all of the insider shares that are now available to trade, and it creates a huge overhang of stock.
In addition, Nate still needs money to keep the doors open, since the $3 mil non-dilutive financing was a lie, the only way he is going to do get money is to find other loan shark style lenders to provide a money fix in exchange for lower and lower conversions prices, which will feed many more tens of millions of shares at cheaper and cheaper prices into an already bloated and diluted share structure.
That is why it is called toxic, because it chokes the life out of the company and it's shareholders. It's like the company is taking a cyanide pill so they don't have to face illiquidity. Either way, they're ... well you know.
My advice is to either hang onto what you have because you're kind of stuck, or sell and never look back. Whatever you do, do not average a loser. It's good money chasing bad.
I wished longs would have listened sooner.
Longs tried to deny that debt would be converted at toxic levels. They also denied dilution, even though it was inevitable. It makes no sense to say there's no dilution, there's no dilution, while at the same time Nate and Wade were given away the company. It just makes no sense.
New 52 Week Low Today for NHMD.
Nate didn't think it would be sub penny, but here it is.
Besides the fact that the business model never worked, the "company" will have trouble finding toxic lenders at these levels, and if they can find them, these lenders will bleed the company and dilute the shareholders to virtually nothing.
NHMD is down 96% from it's high a year ago. It's been a scathing ride downward, with investors riding the pump and dump scheme to the bottom, and just when I was excited to see cans of Nate Cakes around the malls of America.
Then suddenly, from no where, Nate decided to dump his grand strategy in favor of the retail plan that he said wasn't profitable. The same strategy that torpedoed the now defunct Batter Blaster, one of Nate's ignominious failures. And amazingly, he has picked a strategy that he can't execute on at the moment and that is also an extreme failure because the numbers don't work. It's a logistical loser.
Couple that with toxic debt, massive dilution, failed promises, carousing with those on the fringe, and throw in a lie and deceit here and there and you have a 96% drop in the share price and a company that is rudderless, with a total loss of investor confidence, and sadly defeated by incompetent management.
We can all take a lesson from this case study in what not to do when trying to start a company. Don't do a 2 for 1 stock split when your stock is at $.03 per share (stupid), don't lie to investors, don't deceive investors, don't act like something you're not, don't associate with nefarious stock promoters, don't sell your soul to toxic debt loan sharks, do hire competent people, do have a strategy and stick to it, do what you say you're going to do, and don't be stupid.
It's hard running a company, don't get tripped up by the easy stuff because there's enough hard stuff that needs your attention.
It seems that the market and the court of public opinion have indicted NHMD and its management.
I love it when people can see things for what they truly are. Chalk one up for the investing public.
I do feel bad for all of the holders of Nate's. A lesson learned. We can all be on the lookout for any future Wade Co.'s.
Did someone say something about laughable conversion theory due to low volume? How's 1,500,000 at under $.065 to support a conversion dump scenario?
The Indiana plant story was a fabrication by Nate and Wade, and it is relevant because it speaks to the deceptions that have been perpetrated by Nate and Wade from the beginning, since 2014.
For those new to this board, Wade and Nate made up this elaborate story about building a factory in Indiana, and when they were called on it at the shareholder meeting, Wade started wriggling and squirming, and said where did that question come from? As if they had never said it. Wade said that if they needed the building, he said that it's no big deal we can call the Amish to come out and throw up a stick building in as little as a few days. Does that sound like a factory to anyone? The point is, it never was whether they could do it, it's they said they were doing it but they weren't. It was all a part of a deceptive scheme.
The NHMD will provide a huge tax loss for 2015. Further accumulation of NHMD may be a good strategy to compound losses for investors if a tax write off is needed to offset gains elsewhere, just like when Batter Blaster went defunct.
Nate's has been unable to deliver on goals, objectives, or promises. The company has lied to investors on numerous occasions. They've issued deceptively fluffy 8k's, and they have no strategy.
They're "no strategy" is like a shell game. Is it under here? No. How about retail? No. How about kiosks? No. Online sales? No. Retail? No. China? No. Buyback? No. Ind. factory? No. 3 mil financing? No. Cash dividend? No.
Their strategy is schizophrenic.
Nate's name is on the can, so he thinks he has to run the company. He shouldn't. He's not qualified. His last pancake foray resulted in now defunct Batter Blaster. Nothing is fixed. It's still a profitless endeavor.
See Nate's own remarks at the shareholder meeting in June. He went all-in with his chips betting on J-Wad, after spending months and $thousands to launch the infamous defunct kiosk idea. That is Nate's grand no-strategy?
Nate's supposedly coughed up $400k on piston can equipment that they can't use now because the cans cost too much? Wouldn't an investor expect a CEO to figure that out before such a huge capital expenditure?
Nate nor Wade are worthy of investor's hard earned money. They can't get out of the gate without tripping over their own incompetence.
From an strategic, analytical, and technically standpoint, NHMD has to be one of the worst investments of all time.
Where are the Kiosk's and branded stores? The announcement was just a few months ago. The masturNate strategy is cancelled? Investors bought into NHMD because of this grand strategy. What happened? It's over? No 1PM, no kiosks?
Nate's 8K is a train wreck. There's no coherency, no strategy.
According to the 8k, Nate is no longer selling product online through 1PM. This was their grand plan.
Nate said at the June shareholder meeting that "1PM is a long term better plan for the company. It can generate a lot bigger profit because were not losing all of the profit to the brokers, distributors, and stores." If their most profitable plan is now shelved, what is their strategy?
Basically, Nate is giving up on the last hope for Nate's. Nate said, when referring to retail, that 1PM was going to take over sales of the product because "we've got to eliminate some of this stuff to be profitable."
In the June Shareholder meeting, Nate explained how it is unprofitable to work with big box retailers because of having to sell to so many distributors--he said 180 with Kroger, for example. He said that it is unprofitable to ship small amounts to each distributor and this was the reason they wanted to go with the kiosk/online model, so that they could sell large quantities to 1PM.
Basically, Nate's is saying that they don't have a plan for profitability. They worked on 1PM over "several months," and now it's over?
Where is the Indiana facility? Where is the share buyback? Where is the $3 mil financing? Where are the retail deals? Where are the kiosks? Where are the online sales? The company didn't deliver on any of those promises.
What is known is that Nate is receiving $7,500 per month in licensing fees, that Wade swept up tens of millions of shares for being Nate's buddy, that millions of toxic debt shares are converting every day, that the 1PM strategy has been shelved, that the stock has dropped to sub-penny status, and that the company has no strategy other than to deceive investors.
$.0073: Average Price of NHMD Shares Traded Today, and more than 3,700,000 shares traded at $.07 or less. A new paradigm in sub-penny trading for NHMD.
Great idea! NHMD longs should pool $50,000 of their money and approach Nate and Wade with their own toxic debt offer. $50,000 for shares at $.0025. That's 20,000,000 shares. You know he'll do it. He keeps giving more shares for less money to everyone else, so it is within the trend. Then investors can sit on that deal until the stock drops to zero, then Nate can start another company called Blaster Cakes. Perfect!
Nate has already printed himself a boat load of shares in the form of convertible preferred shares. He can also continue to print more shares for himself because he and his gang control 97% of the votes in the company. He can give himself shares at any time, just like he is giving tens of millions in toxic debt shares to people who don't care about the company or its investors and who are dumping those shares, driving down the price to sub-penny levels.
Today's 8k shows Nate's only has a purchase order from themselves to themselves. The last time they did that was when they created an illusory and fictitious 10,000 can order that they touted as demand that sold out in 10 minutes. It was later found out that the company lied to investors and that there weren't internet orders for 10,000 cans for the product; it was merely a single so-called "order" from an insider, who happened to be majority common shareholder, to deceive investors to feign demand that didn't really exist. it was a lie and investors went along with and conveniently swept it under the rug so as not to jeopardize their holdings, which turned out to be a mistake. They should have fled at this sign of deception. They would have saved themselves a lot of money.
Investors that got "free shares" are obviously averaging down since the pps has dropped 75% since the "generous share giveaway."
Besides, it seems that there was a lot of ask slapping in the past (post #27009)when it was a 1000% higher than it is now.
Also, Nate's has followed through on very little. They change their minds monthly. What happened to the Indiana factory, China sales, Kiosks, Online sales, 3,000,000 non-dilutive financing, retail deals (post #24465), etc.? The "Company" is full of BS. They don't keep promises and they don't know what they're doing, hence the massive, massive, drop in share price and confidence of the investing public.
11.09.15 8K Translated ...
(1) The "Company" placed an order with themselves with no one to sell the product to. What does this mean exactly? An increase in expenses and inventory with no outlet to sell the product (since they stopped selling online and have no retail agreements). It's really just circular hype, investors. He thinks you can't follow along.
(2)Online sells have stopped. Master Nate's reorganization of the sales channel has stopped. The "Company" is going back to the model that they decided wouldn't work--Retail, after dropping online sales/the kiosk model, which now they've decided doesn't work (which we told them on the first day they announced it that it wouldn't work, BTW)to a retail model that they told investors at the last investor event was unprofitable. Go figure.
(3) The "Company" has now taken on more toxic debt with massive dilutive consequences. Nate's is giving away stock that can be sold into the market, immediately. This means that Nate gave permission to this toxic lender to convert its toxic debt, tomorrow, into 17,452,830 shares of NHMD, increasing the float by over 20% in one day. That is massive dilution at 1/3 of the current price, and if investors think this toxic lender cares about Nate's, then investors are kidding themselves. This loan shark will dump 17,000,000+ shares into the open market, drowning the herd in the process.
More like mm mastery of their profession, artfully finessing their paycheck from the incompetent herd.
It's a good day for Nate's if you're a mm, buying at $.069 and selling at $.096, a 39% return. If you own NHMD, you didn't even cover the spread.
Next level $.004-$.007.
Millions of shares of NHMD are selling at the bid, and at the same time small time investors are buying at the ask, a full 30%+ higher than what they can get for their shares. It's madness. This is why market makers exist in penny stocks, to wreak carnage on unsophisticated investors. It's like running bison over a cliff. It's very hard to watch.
Enough trading has taken place at this level. The market makers are just about positioned. It's time for them to step it down again. The next level could be $.004 to .007.
The sentiment is that Nate has been deceiving investors from day one. Nobody cares about squirt pancakes, people buy stocks to make money.
Unfortunately, current investors are stuck for a long time. There are millions and millions of shares traded sub penny now. Those shares will have to be cleaned up before previous holders get their head back above water.
If kids want pancakes, the good tasting old-fashioned kind can be whipped up in less than a minute, and they taste way better than cost way less, not to mention they are much better for the environment: less packaging, no CO2, and more efficient shipping.
Is it a wonder that Nate is trading just above a half a cent?
Investors were wrong about dilution, they were wrong about the stock price, they were wrong about the dividend, they were wrong about toxic debt, they were wrong for trusting Nate and his gang, they were wrong at just about everything pertaining to Nate's. They screamed that dilution was a lie, they bought every deception that Nate sold them, and their reward is mounting losses.
There was a lot of "boat loading" and "ask slapping" talk when this thing was 2000% higher than it is now.
Someone mentioned that only a fool would sell this stock short now; they should have said that only a fool would have bought this stock to begin with. If investors only would have ignored the pumpers.
By the end of the day on Friday, the market valued NHMD at just over a half penny. From Tuesday to Friday, NHMD dropped over 50%. it is certainly possible for NHMD to drop another 50% next week.
Who knows, maybe I'll buy some next week. Let me see, 10,000,000 shares at $.001=$10,000. So, at .001 I could pick up 10,000,000 shares for $10,000? Wow, some people would have had to pay $1,850,000 to buy 10mm shares at the high.
I guess all of the "ask slappers" begging for lower prices didn't realize that they lose money on their holdings when the stock goes down. Their averaging down strategy is under water. I could buy millions now and sell into theoretically higher prices, making money off of investor's backs, just like the market makers and insiders did. I could sell for 100's of percent profit, while early investors still lose.
No, I don't think I'll do that. I don't want anything to do with buying Nate's. It just doesn't seem right. I'll let Nate take advantage of investors instead.
Why are comparisons being made to Batter Blaster? Batter Blaster went out of business. One would think it best to tuck the whole Batter Blaster story away in a vault and lose the key because logic would have it that if Nate is using the same model, then it will lead to the same result.
The number of outstanding shares means nothing. Absolutely nothing. The whole talk of share structure is a waste of breath. Share structure doesn't make a company. The product and the management team do. It doesn't matter if they have 10 trillion shares or 1 share. It makes no difference.
What does matter is when a company dilutes what they do have at the expense of existing shareholders. If they have 1 share and they add 1 share to someone else, that someone else gets half of what you own. Same goes if it is 10 trillion shares.
Nate has proved the level of his success by the decisions he's made to hype and fluff NHMD, failed promises, and the type of people he associates with. Talk of his past accomplishments is cheap. What matters to NHMD shareholders is what he has done for Nate's, which is make a bunch of highly dilutive deals and give away the investors farm to insiders.
I remember when investors were talking about slapping the ask when NHMD was above $.10 per share. It seems as if the ask is slapping them now.
Many people spotted the injustice when Wade and Nate were spamming the wires with fluffy 8k's. I think that pisses people off. People don't like to be deceived.
As for me, I don't own, nor have I ever owned NHMD.
I think that NHMD wouldn't be a terrible buy around $.001 (one tenth of a cent). That would put the market cap around $300,000 (accounting for full effective dilution of 300mm shares). At that level, if they make any headway with deals, it could spike up to $.003 ($900,000) market cap.
The problem with buying sub penny and hoping for short spikes is at that level it will have super wide spreads, which would make it really hard trying to make money trading it. The market makers would keep all of it.
The best thing for current holders is to go back in time and not press the buy button. Aside from that, the next best thing is sell and never look back. If you have only a few hundred dollars worth, you might keep it and agonize over it, hoping, someday, that it might go up a little before crashing and burning.
There's no reason to believe that Nate's will ever be a long term viable company. Every move they've made has been amateur and damaging. They have the idea of what it takes to run a company without the skill to actually do it. That makes them dangerous to shareholders. Their management style is a train wreck. And given all of the 8k deceptions, how can investors ever trust what they say?
Another reason to not buy this stock, at any price, is that Nate and the insiders control the whole thing. Investors don't have a chance. Nate and the insiders write all of the rules and change them when they see fit. It would be dumb to buy into a company that is so lopsided to shareholders. If you wouldn't do it in a partnership, you shouldn't do it with your stocks.
What is amazing is that Nate split the stock 2 for 1 through the faux "dividend."
The adjustment, coupled with ineptness, set off a stock slide that has produced the opposite effect.
Nate thought he was so smart. He thought through hyping people with the "dividend," unsophisticated investors would get all giddy and buy the stock so that insiders could exit their positions.
What they didn't calculate was what little support existed.
Bid - $.0092
Multiple trades under a penny. NHMD is now trading trips ($.000). $.01 is a support area that has now been compromised. Downside risk is huge at this point.
Batter Blaster went out of business selling product at $4.99.
Also, there was a reason Nate's spent $400k buying piston can equipment. It's better and it worked out issues of misfires and poor taste and poor preservation.
So, I guess what's to look forward to is an unprofitable product that tastes bad, with poor shelf life.
The good news is that it's investors sell NHMD before the end of the year, they can use the loss to offset gains in their other hopefully profitable holdings.
The bid is trips. When NHMD trades sub penny, it is likely to free fall to the low trips. Usually when they hit trips the lid is at a penny, never to return to see the light of day.
My confidence is in the guy in post #33300 who laments the fact that his NHMD stock lost $$ thousands and his worthless cans of Nate's failed to work.
As opposed to the guy in post #10462 who was blissfully buying NHMD at its high and now is wallowing in an almost sub penny failure, just like all of the other sub penny junk hyped by Wade.
Nate's is undoubtedly a loser and so is NHMD stock. It never had a chance. Through many deceptions, Nate's laid waste to many unsuspecting investors accounts and redirected that money to short sellers, insiders, and market makers. The professionals beat the amateur investors. Is that a surprise?
Yes, someone bought those big blocks for a penny, desperate longs that bought at higher levels, still hanging on to a hopeless situation.
And if changing cans is so easy and obvious, it would have been an option from the beginning. Longs should realize that the can solution is just another act of deception. Don't buy it.
The can change is negligible. It's too easy and deceptive to say the can change fixes all of the cost problems. It doesn't. Wade would not have said that bog box was unprofitable if it was as easy as changing the can. They know it and so does, apparently, inside sellers.
Someone is selling in large blocks; most likely insiders and financiers. They are closest to the day to day operations.
If they are selling, that should be a sign that there aren't any big box orders.
Wade admitted that the big box model isn't profitable, anyhow. Wade and Nate know that it costs more to produce the product than what the big box stores are willing to price it at and what customers would be willing to pay for it.
They tried the desperate mall kiosk idea, which is as mindless as investors wanting to buy the stock.
The trend is not your friend on this one. People are throwing in the towel, and for good reason.
This whole thing has been nothing but hype and deception from the beginning. People were snookered.
Investors should get out and take their losses. The smaller holders, If they sell now, should have enough money to buy a six pack and a pretzel. The larger holders, maybe a steak dinner. It's better than a pile of worthless stock certificates.