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Agreed, those large buys and the acc/dis line is showing that someone is gobbling up all of those large sells into the bid.
The large ask that showed up it just there to keep the price down to allow those to load more.
As they say volume before price, and though the volume is low, the tradeable float must be really low as well.
Money Flow and Accumulation is increasing on the 5/15/60Min charts even with the action over the last week.
Money is coming in and accumulating shares
70k in one hit, as they say follow the money. They obviously think this is just the beginning
Market Markets possibly working together to help cover short shares, sure its illegal but hasn't stopped them before
Perhaps NITE is short from the large volume a few months back and knows he needs to cover before things get out of control
NITE blocking, on the bid and ask can't imagine why anyone would sell with them wanting soo many shares.
My guess is that the bid has been there all week and that has explained the sells to others that were not top on the bid. They want a crap ton of shares
and CDEL with 2.5M on the ask at .008 is nice to see.
Seems to be saying news next week and CDEL will move cause if there is news this will go well past .008
NITE perhaps got the heads up on news coming
Holy SH!T, NITE with 15M on the bid
I guess time will tell, you act like you know everything about how the market works
if that were the case you would not be on ihub or on twitter screaming buy on every "hot" stock that is frontloaded
It will never go under a penny, the mkt cap would be below annual rev's.
I guess they can't all be as golden as Mr. Rosenberg, though his company seems to be having PPS issues as well
Maybe neither have nothing to do with the CEO
He won't and didn't do anything wrong. He has done everything right and is doing everything he can to show he is shareholder friendly
I guess you dont believe in second changes, look at the people who have succeeded in the business world and you will find some failed ventures for various reasons before they found success
Still weird that they can hide the top bid and i just get skipped when .0023;s are sold, its all good though the intentions are clear.
I did well earlier in the year so this is a lotto play for me, if it hits i will do very well, if not oh well just write off against gains
So i raise my bid to .0023 and 20k shares get sold and what do you know, still didn't get any
2 explanations
1) The MM's are massively short due to the big volume days a few months back. All of the sudden a dormant dark shell had 100M in volume in a day, MM's never want to turn people away so they most likely took trades when they didn't have shares.
They now are trying to complete the order but are having a hard time due to the extremely low volume since those days, they don't like loosing money so they are doing everything they can to depress the price and fulfill their obligation. this will take stacking the ask, sell well below the bid and hid orders on the bid. They cannot raise the price while covering or they will loose money
2) They just really want shares as they know if will rise once news is out.
These are the only 2 reasons I can think of based on the trading action
Agreed, and it is the same on the 15/60min chart, also money flow has remained constant. Someone is loading big time
I was 176k slap and still have 73k on the bid ar .0022 however the last trade of 135k was not me
So someone got filled at the same price as I am sitting on the bid and I got zero
Yup and VFIN back on the ask
well its going to .0003 otherwise
On the daily on 8/15 if gapped down from .59 to .56 big ole hole on the chart, i know there is no time table just saying whatever one else says on the negative gaps when we need to fill the gap up, this time it is a gap down
If the float is indeed 132.6M then with 5k shareholders, I know the number given by Dror was larger but lets be conservative
5k x 15k shares average holding = 75M or 57% of the float
so by all accounts the trading float is anywhere from 45M-80M depending on the actual share holder average shares
If all gaps fill, then I will hold till the gap at .593 on the daily on 8/15
What explanation is needed, the O/S as of 8/19 was 343.5M per the 10-Q, same as what you listed
The brokerage houses are no better at telling you the float than I am. They simply use the public filings that are available to everyone, they do not have any special "inside" info.
But any increase to the O/S would be due to convertible debt as laid out in the quarterly filings, but the O/S appears unchanged so everything seems great to me.
If that's the case it was either an AON order or direct placement as it did not take out anyone on the top of the bid and the 1M never appeared on L2
Hopefully it was the last dump from whoever has been relentlessly selling the last month
Still don't know if it is shorts or converts, but 1.1M shares were just sold well below the bid
either that or someone with a lot of shares wants out. I did see someone discuss the possibility of a large naked short position and people need to cover before things go Ape sh!t.
The large whacks well below the bid sure means something is going on that is keeping the price down, and it is not retail from looking at L2
Great post, people are very impatient and want things yesterday.
It is taking long but there are a lot of moving parts and the GLGT shell was not in good standing.
If there are 2-3 companies, each needs to have 3 years audited financials by a reputable firm which can take months. A typical year end audit takes 8 weeks, so for a private entity that may not have a large finance staff it can be grueling as you basically have to prove everything that you have done in the past 3 years.
As far as not having news, I think the company wants to make sure that everything is approved and moves forward prior to making any annoucenments.
As some have said before, a RM has been attempted before with GLGT and failed, if the company has a good reputation and does not want to tarnish it, I would think they would not want to come off as scam artists trying to pump of a shell's share price at their own gain.
They want everything to be on the up and up and will wait until necessary not because investors are getting impatient.
One doesn't pay 45k for a shell and buy shares to get 53.5% of the floar for nothing
Well its on its way to giving back all gains without buying pressure this will sink back to 8-9's
there was a 950k sell when there 50k was on the bid, and it did not move. Hiding Bids to not give the indication that people want shares
it looks like they are hiding bids
I agree it is a great time to enter, I just think the way it is trading will scare away new investors until a consistent trend is found
The action we have seen recently is going to make any new investors think twice before entering.
Green all AM on great news and now down below .04 again
Looking at L2 action today you have to admit that it is being manipulated
Drop it 30% then all the sudden non retail MM stack the bid and the amount that walked down the ask just bumps it back to where they started.
This is MM share grabbing at its finest
If is always the word on the OTC, nothing is given. It is all about risk/reward given current knowledge.
Whoever is using Etrade and walked the price down from .0025 is either really dumb and wants out at all costs to catch the next penny pump or is doing so for a reason and wants the price to be dropped.
Just as it will only take a few to skyrocket, PPS is insignificant until news.
Could drop substantially but if news is dropped will make new 52 week highs in matter of minutes.
Yup Etrade selling into the bid, most likely those on this board calling for .001's and trips are actively making it happen
Understood but with price action, volume and risk of news the risk reward doesn't make sense for a retail short especially based on the cost.
Now of someone gets a whisper of news of a fall out they will short like crazy as the odds swing on their favor
Float at max is 460M but most likely much less with little to no convertibles. This is set to take off quickly with the right catalysts and could be difficult to cover before it hits .01.
All about reward/reward per dollar and going short on this is just bad math.
It is very expensive to short a stock below .01 let alone below .005 the upfront cash required is difficult to justify the potential gains, particularly with this volume.
If someone is short it is market maker that has been unable to fulfill obligation due to strong hands not selling
Have reached the bottom and will rise from here. this week L2 flipped and now there is constant bid support from non-retail MM's
With volume picking back up in September and the numerous catalysts to come we should have a fun month.
Simple there are 2 ways to determine valuation where a multiple would be used
1. based on EPS
2. based on revs
being that they has a net loss which is not unexpected from a start of development stage company so we can use gross profit instead
1. GP 212k for year ended 4/30/14 O/S 270M
212k/270M=.0008
PPS .31/.0008 = 387.5x
2. Rev's 370k/270M O/S= .0014
PPS .31/.0014= 221x
Now all of this doesn't often mean a thing in the OTC but it all points back to market cap
So current mkt cap $87M/370k rev= 235x revenue multiple
If you use something like mkt cap in your analysis then you care about this if you don't is doesn't mean a thing about potential PPS