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Has anyone else noticed how bad volume has gotten for OTC?
In January and most of February, volume must have been wonderful because things were cooking very nicely. In late February, things slowed down, and on the last day in February, overall OTC volume was 27 billion shares traded.
Volume has been falling since then, and today, volume was only one-third of what it was at the end of February (9 billion shares traded).
Does anyone know if historically, this is a seasonal thing, or if there is something really horrible going on (besides the on-going problems in Ukraine, new OTCQB rules on May 1, and tax filing time three weeks ago)?
You can buy and sell as much AXLXD as you want (although you may have to call your broker to do it).
However, what you cannot do is sell shares of AXLX until they have been converted to shares of AXLXD. Your broker can (eventually) tell you when this conversion will occur for any shares of AXLX you were holding before the reverse split.
If you go back in the message log, you will see that grifter_24 stated publicly (to anyone reading messages posted to this forum) that he would simultaneously contact ALL of the people involved in the lawsuit. This included not only Basu and Grewal, but each of the attorneys. He was doing this for the benefit of EVERYONE on this forum (and planned to share what he learned) because we had all gotten very weary of Basu's lousy communication attempts, we were tired of being left in the dark, and we all wanted to know what was going on.
Chandana Basu brought this on herself due to her failure to communicate effectively with shareholders in the PRs that were released. Half facts which are non-verifiable of the type that Basu provided in her PRs are what someone spends cash upon for a quick flip of an OTC Pink rising a point or two in a day or two. That level of information is insufficient to justify staying long in a stock for months until the next court date occurs.
What I really think is the problem here, if we accept Basu's account of what occurred regarding Grewal, is that he was a trusted person in her life, and he used that trust against her to steal her clients, steal her technical staff, steal her intellectual property, steal her money, ruin her professional reputation, come very close to destroying her corporation, and come very close to bankrupting her personally.
If someone did that to me, they would be VERY lucky if I did not put a bullet in their brain.
I think that as a result of her experiences with Grewal, Basu has a very large blind spot in her ability to exercise good judgment regarding anything that involves Grewal, and I cannot say that I would blame her.
I cannot fathom any other reason why Basu would have committed such a boneheaded move as issuing last Friday's PR. Any rationally thinking person would have realized that such a PR would only damage PPJ Enterprise as well as Basu's personal reputation with regard to the ability to exercise good judgment.
The only other rational explanation I can consider is that Basu wants to drive the price of PPJE down for some unknown reason. Because of the obvious degree of long term damage last Friday's PR has done to PPJ, I cannot see this as being the most likely explanation.
I think that Basu's blind spot in her ability to exercise rational thought means that Basu just automatically thinks that any contact from anyone to Grewal means that such person is working with Grewal against her.
I suspect that is also why she has failed to name any of her new clients or partners. If she names them so that Grewal can learn their identity, she leaves herself vulnerable to his potential mischief.
However, even if her paranoia has basis for respect, that is not the problem of a prospective shareholder, and she deserves no free pass with regard to spending other people's money. Failure to communicate verifiable "facts" regarding the state of the business will continue to hamstring any efforts she wishes to undertake to grow her business with long term shareholder support.
Probably, the best course of action for Basu, if she wants to regain trust of shareholder and prospective shareholders, is to pay for an independent, highly respected accounting firm to audit PPJ's finances on a MONTHLY basis, and let the accounting firm release the results in some public form. That way, her connections with her clients and partners are protected against Grewal's interference, but shareholders can still be confident when Basu suggests that PPJ is actually growing again as a business. If I remember correctly, one of PPJE's PRs about funding stated that the financiers would pay for such financial examinations. Now, Basu just has to execute...
Teachers do not get paid that much. I can guarantee you that you could find at lest one English teacher at every single school would be very willing to proofread a document for $50.
1)
Yes, we have learned one VERY important fact about iHub today. Your favorite ticker does NOT have to be performing well to end up on the Breakout Board. PPJE is now #1 on the Breakout Board and running about 2.5 higher than its nearest competitor based solely on the fact that there are SO many more posts on the PPJE forum today compared to what was running on the forum previously. It looks like the spots on the Breakout Board are determined solely on the basis of the ratio between previous rate of postings and the current rate of postings. Forums that have small traffic, and before today's PR, postings on PPJE had slowed to almost nothing for day, that suddenly spike with huge traffic go straight to the top of the Breakout Board. Now that we all know how the Breakout Board works, it would be possible to use that information to send any ticker to the top if enough people who regularly post to one forum decide to cooperate (ie: take 2 or 3 days of break on posting, and the post like mad right afterward). If the posters have something good to say about the stock, lots of people would see it routed from Breakout Board, and that would drive volume into the stock which is usually very, very good for a stock.
Ok, I know that we all sometimes get sloppy on these forum boards, but shouldn't a professional editor know the difference between "new" and "knew"? ; )
(You know... cause you haven't gotten enough piled on you yet today! hehehehe)
(If the day gives you lemonade, you have to figure out how to giggle anyway, right?) ; )
The thing is that grifter_24 didn't unduly bash PPJE at all. I've read everything he has written here since January... as it was happening... and he was only raising the same issues that all of us were raising. He did get a bit whiny after the first trial delay this year when he thought that PPJ should have gone forward with the scheduled trial instead of postponing to look at some new evidence. However, he had waited for a long time for the trial, and had invested much energy in explaining to many others, including myself, why the lawsuit could be a very good thing for PPJE shareholders. So, we can cut him some slack for being more disappointed than most.
Aside from that, he simply asked the same questions that we were all asking as the various issues came up, mainly from stupid actions from PPJ.
There was no unreasonable, excessive, or undeserved bashing from grifter_24 at all.
I cannot imagine ANY competent attorney telling a client that it was a good idea, or an acceptable action, to expose the client to the possible liability to which this morning's PR left PPJ exposed simply to gain the ability to inform a small group of anonymous posters here on iHub that grifter_24 is a problem. No, I have to figure that Chandana Basu issued this morning's PR all on her own without consulting anyone else about it.
If you have not already gotten it, you are going to need legal council. In spite of what I said in my earlier post, and I still stand by what I said there, you have grounds to at least explore your own lawsuit due to this morning's PR, and for that you need an attorney. Good luck!
Ha! I'm just repeating what others (mainly $UPERMAN) have stated on this forum. FINRA may not like it, but what I've been told is that PPJ has promised extra shares for those who held long during the period of reverse splits years ago. I've only held PPJE since January, so I certainly would not qualify for any such long term reward of additional shares.
Inquiring about the possibility that all CURRENT shareholders would qualify is apparently part of what caused grifter_24 to be featured adversely in this morning's PR. I take that as some additional indication that PPJ is not planning on giving extra shares to current shareholders.
Of course, it seems that PPJ has also been asking people for their personal information as part of the process to figure out how to distribute incentive shares, so it seems to me that PPJ has no idea what the correct process (or the limitations of that process) might be.