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Damn! And you still haven’t learned the basics about how the OTC works. Sounds like a learning disability.
The last 8/k confirmed about 120-130mm shares were just issued to RBC. That’s called dilution. It’s actually extremely basic information for an experienced trader like yourself.
Ya you’re right, it’s just intentionally stupid dumping. Totally makes sense now...
Try reading.
Should be a lot of support in the .015 to 16 range. Hopefully it can soak up the remaining dilution.
It’s finite.
Who here admitted to having those shares and wants out damnit!? Lol
This company has literally never had money in the bank so the funding is a big step, no matter how it was achieved.
We need confirmation of O/S more than anything right now though.
specificity / molecule binding can be tested and confirmed without FDA or patent approval.
Next, Sunshine will evaluate the binding affinity of these molecules to the SARS-CoV-2 papain-like protease (PLpro), one of two virus encoded proteases essential for viral replication.
It's in some of the previous news. There's nothing preventing them from doing a lot of things before patent approval and phase 1 trials commence.
We'll get specificity / molecule binding news first...IMO
No worries! I think it’s missing the detail on whether these are institutional or passive investors. Meaning whether they plan on exerting control or power based on their share position.
That distinction plays a part in the timing of when they have to file, among some other exceptions.
We’ll have to see how it plays out as I’m not an expert in these req’s.
Once the filing happens we should be able to infer the outstanding shares based on the % ownership. We should likely see it next week if the 10 day timeline applies.
I think we can all agree they had the shares to sell on 9/11.
I’m assuming RBC would eventually need to file a 13/g to disclose their share count if they hold more than 5%.
A few more days at this same level and I’ll be convinced dilution is done or almost done.
Looking for a reversal. Volume is low and her spread is wide...
I totally agree man and I think new the new developments will support the share price too. I’m just trying to be reasonable in my assessment of what has happened. The 8/k has some tricky verbiage, but it does explain why the run was killed.
We’ll get there. I have a lot of shares backing my support for this stock.
Agreed.
I’d honestly rather them sell down here where those shares are worth less. If they held and sold on the next run we’d get screwed again.
I think they’re at least 75% done, but it’s just a hunch based on the recent volume. It’d be nice to get a SS update but everyone will get that at the same time. Either on OTC markets or through a filing like a 13/g or 10/q. Keep your eye out.
They’re not investors, they make their money by financing. They will sell and move on.l to the next deal.
Looking good so far today but there’s plenty of time. If this keeps up we could see a nice run tomorrow EOD.
I personally believe patent approval will come in November before thanksgiving.
By the way I see it there's no reason should have to pay back RBC with those terms, they already have almost the whole loan amount back.
I think they started selling on 9/10 and we've had plenty of volume since then, 234mm shares. The question is how many have been sold and are they out of shares yet.
I can't imagine they have that many left as I think most of the sells last Thursday and Friday were them.
Absolutely. I would expect that $2mm over the next 6-months to be spent on some big moves.
News should come more regular now that they have some resources.
.026 - .028 would actually be a fine close.
RBC is making a killing on this deal....
Any dilution should be done by the end of week. About 50mm shares hit the market on Thursday and Friday last week of the 130 million shares issued per the 8/k
We have a little headwind due to the terms of financing. Read closely it’s related to the drop on Friday as well which allowed a lot of buyers to get cheap shares.
Haha that’s apparently the case. I would have guessed last a Friday would have been the factor days.
Let us know if you have an update.
That was the pullback...up front here. .05 cents today is likely.
Thanks! I always enjoy seeing these.
Like bread $$$$ ?
.10 this week is possible.
Toats
I’ve screwed myself like that more than I can count. It has worked out in some cases but my largest wins have been from resisting the urge to outmaneuver the mm’s and general public when I know there’s more $ on the table. Usually you flip thinking you get back in soon but it doesn’t work out price wise.
With that said locking in profits are better than losing $$ so if that’s the idea I more than support it.
Calling tops and bottoms can be tricky.
Exactly. The problem with flipping this stock right now is that the pullbacks are not big enough. You’ll likely screw up and then hit your 3 rt trades and then get stuck holding when it actually was the right time to sell for fear of not being able to get back in.
The key to getting over that $25k is knowing when to hold, get your day trade privileges and then you can do some dumb sh*t
Here comes the next pop..... .04 looks likely today
Bahahaha.....at least we know he’s human. Kinda hahaha
He wouldn’t be here if he got out lol. Thanks for the cheap shares mr penny!
What if they do actually decide to do a share buyback like the rumor mill yesterday....
$$$$
Daily RSI of 45....we have a long way to go
Awesome news here today. You Don’t see financing that converts at market pricing that often
Uh huh.... lol.
Just sitting here with the chump change $$ I made from the last run up ??
Expectations are nice but this is pretty on par for most biotechs that usually fund themselves by selling shares. This company has a history of limited PR’s so if you’ve watched this stock for a while you kinda know what to expect.
Steve does have existing patents that anyone can verify. There’s no reason to assume he’s lying this time when he’s a proven commodity.
Biotechs only care about funding until they are out of the R&D phase, not necessarily shareholder value on a day to day.
Someone just bought 4milly at .014