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BMAK diluting on .0005, any takers at .0005?
New dilution at .0007, should see high volume today.
Selling shares is the primary business of most shell companies like BRNE.
It doesn't have to be "insiders" dumping - market makers always have shares that the essentially create out of thin air. This is how the companies raise money in the first place.
Right now, BRNE has no market. No real buying, no real selling, just a slow trickle downwards...
only insiders or mm's could possibly be dumping the shares when there is no market otherwise. A few million a day, so they stay under the radar of the SEC.
they do this to earn an income. it's why they got into the business of selling shares.
this is a sideways, slowly trickling down market in the meantime, until buyers come back. let's all pray for a pump-and-dump
Nothing but 10,000's on the ask - DILUTION CITY!
"LMFAO", this stock is being heavily pumped on iHub to make amateur traders believe it's actually a real company :/
WHY are there so many posts when this stock is completely dead?
...could it be because iHub is the new Pump-And-Dump?
"200DMA" and "microcap" don't belong in the same sentence.
Most penny stocks NEVER return to their 200DMA once they're under .01 cent...
This will never go higher than a penny, and even that's pretty much a pipe dream. Only a buyout could possibly take us that high, and there hasn't been any mention of that.
The most recent downtrend began on 4/28..
A Fib-Retrace from there meets the 100DMA around .004, so that's your next major resistance IF things go well.
We'll see...
The VOLUME STORY here is positive...
strong accumulation since 8/11. sellers have been driving the price down, but on low activity... which suggests weak retail hands. Not seeing any dilution patterns here, nor have I noticed the usual suspects on the L2.
mostly, this has just been a dead stock, and the price has been slowly dropping due to low activity.
But Accum/Dist AND On Balance Volume have been slowly grinding up, in a slight but positive divergence.
The buyers are beginning to take control, and today it looks like we'll close with a hammer, around .002, suggesting this pullback may reverse back into an uptrend.
I'm going to raise my price target to the 50% fibonacci level of .0057
I'm hearing crickets here...
Absolutely no buying interest here, except for the couple of fools who believed in today's "news". Thanks for holding that bag for me, y'all!
If one wants to day-trade this stock, look for some stops to be triggered real soon and try to catch some at .001
OTCMarkets.com is NOT a reliable news source.
You might as well be getting your info from their Facebook page.
Also, moving locations isn't newsworthy in the first place - it's just typical b.s. microcap pumping so they can dump a few more shares...
no stock is going to run because a company says it relocated it's offices.
Oh PLEASE! "water acidity"... ?!
...ALKALINE?
Put down the bong, man! Water is only made of two elements - hydrogen and oxygen. Together, they are pretty much the opposite of acidity.
So any bottled water will do, thank you very much.
I'll give Rico credit though... at least he's making a decent effort to pretend his company has a real product. That, plus the relatively low OS (for micro-caps) is what has created this buzz.
Traders are hovering around this like vultures, looking to double or triple their money in a single day.
It's amazing and pathetic at the same time... some traders just need to believe that they're "investors", so they keep trying to promote this company as if it's a real investment.
This is a scam, just like all the other micro-caps out there.
Just flip it and quit it!
It's ABSOLUTELY a fake pr to dump shares!
Anytime you see huge green candlesticks that are mostly upper-shadow, it suggests that there were a lot of buyers that came in, and shares got dumped in to the market when the insiders saw the high volume.
True investor buying interest would close closer to the top of the candles.
So yes, one can say with 95% accuracy that insiders are dumping shares into the rally. I'm pretty sure that's why today, traders are holding back instead of rushing in... waiting to see what happens.
Watch those candlesticks!
Keep in mind that even if this does manage to spike to .05/.06...
The close on that day will likely be less than .02. ITEN is going down just as fast as it goes up. Between the flippers and the insiders, there's always going to be heavy selling right after they notice the volume picking up.
So the question you have to ask yourself is... do you feel lucky?
Well, do ya... punk?
People keep saying "news" like that's going to mean anything.
I'm hoping we have NO news! There's a better chance of a price spike if this just happens on it's own.
The candlesticks show massive selling when the volume reaches a certain level. Shareholders (insiders or not) sold into the recent bounce/rally - when all the new buyers thought it was just getting going. That wasn't loading, that was dumping...
Just look at the Accumulation/Distribution(D)... it clearly shows a huge dump-a-lumpagus starting on 7/28.
The hourly Accum/Dist gets even uglier... massive selling just when the accumulation was getting good... and ever since then, the distribution of all the day-traders dumping their shares when they realized it wasn't going anywhere.
I tell ya... this could definitely go to .05/.06... UNLESS they release "news".
These companies tend to dump their shares on news days. They only release "news" specifically for the purpose of unloading their shares. If they do release some BS promo this week, I guarantee you the price will go straight down.
This shit is evil, son!
ANYONE KNOW THE AUTHORIZED SHARE COUNT?
It's worth repeating:
The company was a shell scam from the start.
The company just got busted for being a shell scam.
The SEC suspects that a couple brokers were in cahoots with the CEO to inflate the stock price, which the brokers then sold to their clients.
Several restricted shares were dumped onto the market by insiders, even though they were "restricted" and supposedly couldn't be sold.
That is pretty much the definition of a dilution scam.
Don't worry, I don't think theres much dilution going on now. This is just a fat spread due to trader uncertainty.
Anyone contacted the TA recently?
A quick search finds ITEN @ only 500Million shares authorized. I'm wondering if any new shares were authorized recently that we aren't aware of... ?
It's easy to cry "dilution", but this seems to have a different character...
There has been massive selling, but only after the buying is done for the day. daily candles show high volatility, with heavy buying at first and then selling the rest of the day.
That seems to me like bag-holders have been notified that that price is rising, and they are taking advantage of the opportunity to unload. When MM dilution is occurring, the price usually stays flat on high buying volume. That's not the case here... volatility is too high for classic dilution. This is buyers vs. sellers.
So there is massive dilution, yes, but obviously there is a lot of buying interest here - probably just playing the bounce.
And the bounce could possibly go as high as .10 cents, but that would be a fluke. Based on the current situation, this should only bounce to .018 or .024, maybe .04 at best.
I wouldn't hold my breath for any "news" though... this company was a shell to start with... and now there is SEC litigation because the company was busted for running a shell scam... so there's really no excuse for those who lose money here. It's a bounce play, period.
As for me, I'm not selling just yet. The insiders will eventually run out of shares, and there is still enough buying interest to generate a run.
Selling and Buying are almost in perfect balance for now... we'll see.
Major Dump-A-Thon happening today...
A website that a child could've made? that's ALWAYS a red flag with these scam companies.
A ridiculous product? That's a second red flag! I thought NYBD's "alkalized kids water" was the stupidest thing I'd ever heard, until this... a NEWS channel dedicated to pot?! the CNN of weed?
...Even for a stoner, that is the dumbest thing I have ever heard! You'd either have to be a foreigner with little understanding of our language, or just plain mentally retarded to believe there is any kind of a need for pot news... let alone an entire channel about weed. Nice picture of a fake studio, though... looks like they are just about to do another bong rip before reporting... oh wait, there's nothing to report... it's weed.
A THIRD red flag, of course, is VFIN on the ask. whatever price VFIN or NITE are sitting on, that is exactly the price it will stop at before plummeting into the trips... watch the AS stay at 10,000 while millions of shares get dumped onto a market of unsuspecting fools.
There's nothing wrong with flipping shell company stocks, it's a good way to make quick money... but once the A/S gets above 5 Billion, it's usually too diluted to lay any more golden eggs.
I'm just watching this morning to confirm that I'm right. I've seen these patterns before, and I want to know that I dodged a bullet on this one.
Once a shell/scam stock like UTRM is this diluted, you'd have to see a day of 1 Billion volume before the price moves anywhere. So until I see I see at LEAST 500million in volume, I'm going to sit this out and listen to the screams of those who have fallen in to this trap.
There is proof of DILUTION on L2
Can you describe a legitimate reason why anyone would want to sell millions of shares, yet only show 10,000 shares available?
I don't think there is any reason for that... but I do know that whenever I see the likes of VFIN or NITE on the ask, dumping shares while hiding the actual amount...
...it tends to have the effect of smothering any new buying interest. Traders just keep buying, but the price stays the same.
At some point, you have to assume that the price will not rise, no matter how many shares are bought.
DILUTION here all morning long...
VFIN was sitting on the ask for most of the morning, with the ask-size only showing 10,000 shares, yet millions of shares passed through VFIN.
Now it's NITE...
Sorry, MM's killed this today with dilution, people have caught on, and now the price is heading in one direction... down.
I would not suggest buying this at ANY price, the dilution is too severe at this point to ever get another rally.
1-tick flips from here to no bid, that's all we can expect from UTRM. too bad, this had potential :(
Did anyone see that RETARDED video?
OMG, LMFAO!!!
It's literally a lot of dirt, with some metal rods sticking out of the ground and a hole nobody in their right mind would climb down into! Not even professional miners - you could die just trying to climb down into that death trap!
I guess it doesn't matter, since the assay results were a total flop in any case. I think if you were to "mine" that entire area for the few atoms of gold that might be there...
...maybe you could get a decent sized earring. But only one. i don't think you could get TWO studs from that "$10 million dollar" lot of brown dirt.
Now a DIRT FARM, maybe THAT could produce some revenue for GNCP!
Ted Blom has got to be the DUMBEST CON MAN in the entire history of con men! The reason the price is almost at no-bid is BECAUSE GNCP KEEPS RELEASING THESE STUPID PR'S!
Could someone please email Ted and tell him to stop giving us "news" ?!
I mean, Day-Traders are a shallow and naive group... if he would just let the pps move on it's own - with no pr's whatsoever - this company might be worth .01 by now!
I guess he wants everyone to think that he's just honestly incompetent, so that no one can say he's running a dilution scam on purpose.