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Agee. The last place that this company wants to find themselves is in a courtroom. They are a de-registered, non-reporting company. In my opinion, they are not likely to shine a light on anything in the interest of clarity.
Nothing meaningful should be expected along that thought line. The best that could happen here is: clean up the shell and seek a reverse merger candidate.
Yes, I remember now you mentioning your trading dilemma while in Ecuador. Beautiful country. My brother had a place on a beach there before he passed.
I am truly sorry for your loss. Know, though, that there are several traders here that worked their way to a core of free shares (with profits) by not placing unwarranted faith (and money) in a suspect business model and unproven leadership. We played the swings - traded many, many days. Eventually everyone makes a mistake in their life, and correcting that mistake means acknowledging that a previous method contributed negative value to the desired outcome. This, you seem to have done. Best of luck to you in future investments.
Promised??? Dear God, son! John is the one responsible for the intentional act of de-listing the company. It was an overt act that required a filing to do so. It was not a lapse. That ended the requirement to file financials, which provide the PROMISED transparency. What, exactly, will it take for shareholders to abandon fealty to a leader that serves no one’s interest but his own.
So, you're suggesting he's a paid pumper? Or, is he working his own play?
There is nothing sophisticated about this scam at all. They prey on the uninitiated to spike the pps, thereby drawing more neophytes into the play, all while trading the spread to make money. It's the the OTC. . .been done many times. Averaging down is a losers play. Follow their demonstrated lead and make some money. There is no fortune here for buy and hold players. If you're upside down, exit while you still can and then re-enter on a dip with a trading mindset.
Exactly! This is, after all, a company that has been unable to shed its shell status in nearly a year of promoting all sorts of nonsense. . .none of which has produced a dime of revenue, let alone fcf. There is nothing to clear up here.
Blunders? How about his failure to recognize the rigid dichotomy of his business model wherein limited/exclusive product availability/distribution is in direct opposition to the need to generate substantial revenue? Coupling this realization with the failing NFT market should warn most of the impending failure of NICH. . . barring significant changes to the model of course.
Yes, you have been quite insightful. . . and straight forward on your strategy. I too have fared well trading here. Admittedly, I hold a core larger than I should, but they are all house shares at this point. How long before we see trips here? 2 weeks?
That won’t be enough. The business model is flawed. They have self limiting revenue. Once the line is sold out (if it ever does), revenue stops.
Okay. I’ll stick around for the first hour or so of tomorrow’s session. Your response will be telling.
Same. For me, it has been a trading opportunity from .56 all the way down. Hundreds and hundreds of swing trades and not a single short trade. I wish playing the spread was always so easy. I owe a thank you to the longs for their continuous average down efforts, and a recognition of the pumpers for their strong assist is also due.
Sorry ptcgolf. I didn't mean to suggest that you're stuck personally. I was speaking of the board generally.
I too had been in reduction for some time, and while I still hold a sizable pile, the pile is all "house shares" having delivered tens of thousands in profits this year through the practice of swing trading the spread. At this point, for me, buying at any level would amount to averaging up. . .not gonna happen. Without my buying power, as well as that of like minded traders, this will not bounce. De-registered, non-reporting companies rarely, if ever, turn things around. If you're stuck, I feel for you. Pumping, however, is not going to fix this.
Good advice.
Yes! NICH has an unsustainable business model with self limiting revenues in the collapsing NFT market. Who could have predicted things would go wrong. Now they have floated a 900 million share Reg. A offering while they only have 300 million authorized shares. Does anyone in management have a clue?
Oh goody! Maybe we’ll see yet another double bottom to fuel interest.
Still make sense to you? As I said, wait for sub-penny. I am truly sorry for shareholders being treated this way, but ptcgolf and I both have been sounding the alarm for quite some time.
What happened to the “huge run” forecasted off of the double bottom? We are now below that double bottom.
Exactly! Buy now, then sit back and watch it bottom out at sub-penny. Now that's a bottom play.
Folks have been saying that since the much hyped, and months old, “double bottom”.
In the case of NICH, averaging down one’s position is unfortunately a prime example of putting good money after bad. Not a great time to launch “peace on mars” while NFT market is in middle of collapse.
Yes, let's do. Seems the technical support @ .0265 has caved to the pressure of dumping. Way to go John.
I think not, but I'll hold for a bit longer.
Okay fellas, you have 3 minutes to paint it green.
And the painting has started early today with a 200 share buy at .0287 to move it up a bit.Or, is that going to be described as accumulation? lol
What support? The trend has been lower highs coupled with lower lows. Please explain how that is interpreted as support.
I disagree. Friday’s volume (which was an aberration) quite obviously was a sell off. Aside from a small buy at the open, the issue was was down all day and closed over 7% down for the session. Mid .02s by the end of the week. . . and that may be an understatement. Support is crumbling for this ticker since it became non-reporting.
It will be mid .02’s by weeks end. Talk about your imaginary support then. Small $ paint jobs is the only support I’ve seen. No volume = No support. Just bag holders trading shares attempting to average down so that can exit on a false flag fabricated mini spike.
Perhaps ALPS just knows how to trade for their own best interest... something we could all take a lesson from. If you're looking to make big money, learn to trade... not buy and hold for a long shot chance at earning a fortune. Making 8 - 10% on trades can easily amount to big money. The way the spread (somewhat predictable) fluctuates presents remarkable opportunity. Play it, don't sit on it. What do you think ALPS is doing.
Down most of the day on heavy trading. I was at a funeral today... may as well have been NICH funeral. Not a single pumper stepped up for the usual (this week) paint job. The business model won't work. Product sales will NEVER cover costs.
Yep. $16 paint for another green close. Seems to be a theme here. However, painting the tape won’t replace the absence of revenue. Just another stinky pinky with bagholders trying to pump their way out.
A lesson on common use:
As I stated clearly, "not hardly".
Great update? Dilatory nonsense is more like it. Feeding the pumpers.
Great close yesterday? Not hardly. That was a paint job creating a false flag impression of a move up after being red all day. Let's try to be honest here.
On the contrary, it's priced too high...even down here. They have no product ready to sell, no production/manufacturer identified, they have de-registered and become non-reporting, they have zero dollars revenue and their business model limits the number of items they sell. Perfect storm for P & D. Keep pumping as it really helps swing traders who know it will always come back down.
I trade around a core of "house shares" accumulated (along with profits) by swing trading the spread. On the run to .76, my core made a nice return. Obviously I'm not going to change my modus operendi to your HIGH risk buy/hold long method.
A vast and overwhelming majority of the money made in the OTC is made by accomplished traders working the spread. Yet, nearly every ticker has a group thinking they've found the right one to buy, accumulate and hold long to make a fortune. The rarity of that happening is so great they should save money and just play the lottery. Never fall in love with a ticker that you can't make steady profits on by swing trading the spread.