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I kept thinking about is: how are they going to do all these Acquisitions and everything they have no money!!! They just were issuing stock but it's a lot more to it than just issuing stock I mean is he going to run all these businesses by himself??? it's just another OTC pump and dump this time it was Crown King on Twitter doing the pumping and many people got bagged in this piece of junk.
PR talking about shareholder equity in my opinion is not true, there is no shareholder Equity. liabilities far out seed assets, so how can you talk about shareholder Equity. I would not be surprised if this thing turned into a total bankruptcy in the ensuing months.
MAYBE some way they can finagle and give the shareholder something but I'll bet you it's a tiny tiny fraction of what it is now when they when all is said and done.
Really the debt is crushing and they were paying off debt from the old company that failed. I mean you just can't make these things up and people trying to paint that as positive because they have a long position in the stock. Just sell and find something else and get off the OTC bulletin board it is dead right now maybe in the future it will recover but it is really bad right now.
I could give you a list of companies where people are so far underwater they'll probably never recovery like ENZC, SIRC, ILUS, ect, ect.
@GeorgeASharp warned people about $DVLP in DECEMBER! https://t.co/ktB9PIQalP
— Paul (@FLDreamHouse) July 6, 2023
one tick banana
$DVLP took profits. Slightly up and more to come @ $MULN#CBitingD pic.twitter.com/hbeoJWqpYy
— Bunny (@BunnyPicks) July 14, 2023
With this kind of canned PR that was obviously gone over by a lawyer, this thing could see 0001 before the end of the year
The rats that were loading are probably going to jump ship after they figured out it ain't going up anymore.
Stavros is just worried about his own ass all the stuff he said last year and look now, he's just probably afraid that he doesn't get in trouble with the SEC
More than likely all the scalpers that loaded up are going to sell real soon in the next couple days and this will start going back down, the pr was actually terrible fluff, it was already commented on.
But wait a minute I forgot this has a cult following so it'll probably stabilize because the cultists are going to buy more even though it's bankrupt and worthless and it'll probably never make a cent after expenses.
Most likely this is close to the high of the year and after a few days it'll just start heading back down, it has done this every single time.
You can buy follows on Twitter.
I can't believe how bad the OTC is right now, you might as well just shut it down. I mean there are a few stocks during the day that the Traders play with but for the most part it's just pretty much dead.
$DVLP PR coming be on the lookout!
— Bunny (@BunnyPicks) July 10, 2023
Bullish! pic.twitter.com/Y7R1wriix6
If there is any dead cat bounce it'll be sold into when they release the PR, some Fluffy thing talking about how great the future is going to be, all you have to do is look at the history, they're sold into every time and then this thing just fluctuates back and forth but in some range.
Monkeys at the pump organ continues keep cranking. One tick...25%
That's their bananas
Like I said, there's a cult following in the stock they will never let it go maybe even after it's canceled
I'm pretty sure that basically when they started last summer they were already bankrupt from the last company they were doing in the cannabis and they were taking part of the 5 million and paying off some of the old debts supposedly, I mean if you believe all the stuff the CEOs telling you I got a bridge in Brooklyn New York I can sell you cheap.
Even when you go on Twitter there's only a handful of traders that are trying to dead cat bounce this thing. I've never seen it look so bad as it does right now, if there's a dead cat bounce those Traders will be gone and it'll keep going lower in my opinion.
Otherwise they're going to keep spinning this bankruptcy story about them paying off their debts and trying to make it sound like this is a real investment like BBBYQ , AVCTQ and others.
LMAO 7mil debt, 200,000 cash
there's a handful of Traders loading up and they're just looking for one or two ticks and they're gone and they go for their next shiny object.
Also there's a cult following for this thing on a Telegram room I believe was spawned under Crown King, not sure about that but I think it happened around that same time. And this kind of following of a stocks, they will not believe it is gone until the very day the stock is canceled out of their account.
it's obvious, they're just trying to pump it, when it, if it ever goes up 25 or 50% they'll be gone and they will disappear
translate it, you're just trying to pump it so you can get 50% and dump all your stock
be careful this might be halted and not open for months
Why am I here: I love the stock market, I made a fortune in it, and I like seeing what happens to stuff like this, and seeing what state the OTC is in.
As of March 31, 2023, the Company had $219,423 of cash and limited revenues to meets its ongoing operating expenses, and liabilities of $7,631,425 all of which are due within 12 months, and as of March 31, 2023, the Company still had a working capital deficit.
or until the SEC halts trading in this.
not to mention all the legal expenses their are going to have fighting this thing in court
and remember the fact nobody's going to believe him anymore except you two or three guys loading at the bottom
the Bottom now will probably be the top next year, be interesting to watch next couple months but I think the whole thing's going to die pretty soon
What about the fact that Beach Bum brought out about the fact that the CEO never disclosed the material fact about probably knowing about the bankruptcy???
It looks like the CEO has lost all credibility and nobody's going to believe him. The people buying now are going to have a hard time flipping, just my opinion of course.
Also the people buying now are probably going to sell on the news that is coming, just watch they're only in it for 25% one or two ticks, if they can even get that.
Just think, this thing is probably going to go lower after the news cuz there's not going to be any catalysts for a long time and even if there is, nobody's going to believe them because of the history here.
I go by Price action when I saw the volume around 1 cents and I saw it continuously dropping I got out I think for a 15% loss which is very small from where it is now, price action never lies but I realize in penny stocks the price can swing wildly but that was just my perception, I saw the volume and the price just wasn't holding up so I got out and now I'm just watching. A lot of people made a lot of money in 2020 but I don't think that's going to happen for a long time if ever again
A lot of people made a lot of money on the way up and a lot of people lost a lot of money on the way down in 2020, 2021 so I think that's sort of the definition of trading but I'm doing okay now on the listed stocks. I will tell you I've had a lot of success shorting stocks around 12:00 1:00 as the algoes seem to switch to sell on a lot of them but you have to watch the stock closely how they trade and of course these are real stocks that trade on the NASDAQ and New York Stock Exchange and not junk like this
You guys loaded at the bottom but you might be selling lower cuz there's not going to be anybody to buy it on these news releases anymore.
Most everybody has lost any confidence in the CEO on the message boards except one or two people that have loaded at the bottom and are looking to flip
yes, keep the story going, but I think you're going to run out of buyers soon, too many people been scammed.....SIRC another one.
This will be played for 25 to 100% gains and then dumped, four ticks
But less and less people are going to play, and one of these days nobody's going to play.
If you look at the history here this has been done every single time!
It's a great story, the bankruptcy story, it makes him look legitimate and they can keep this thing going.
You can see how you make money in these, like I said before you day trade them or swing trade them, if you try to invest in them you're going to lose most of your money most of the time but there's always that one lottery winner to keep that burning desire to be a Millionaire on a penny stock going.
Always a story to keep it going.
I mean with the reputation of the OTC, how do you think this is going to come out in the end???
ENZC, CYBL, ILUS, HMBL, GVSI, INND, OWUV ect, ect
BBBYQ has a whole story how somebody will come and rescues them on Reddit.
Good luck, there's 7 million in debt and none of the stuff that the CEO has or is provable and nobody believes them now.
I realized there's whole groups of people in this from Crown King and others and they have a telegraph room and everything. I hope everything works out but most of these you end up losing almost everything in the end unless you get very very lucky.
It's just like the other stuff for the last year, it all sounds really good the story and everything they're doing, but in the end you end up losing most of your money.
Like other tickers, there will be people believing in this right till the very end till it's canceled or it goes to 000001 with no bid.
yes, you can make money on the chart, just make sure there's a chair when the Music Stops.
Because it's called Trading, this bid is strong on BBBYQ and many others and anybody in their right mind that looks at the assets versus liabilities knows it's going to zero.
Answer your question because Traders play with the stock while it's going through the bankruptcy because it is part of trading game. Some people are short to stock at enormous amounts and it helps stabilize the price.
There was a strong bid on JCPenney when they canceled it at 10 cents
Yep, people are going to spread and misinformation here saying that they're going to come out of bankruptcy, the chances are very low that the stockholders will ever get anything but people are going to play this for two or three ticks while three ticks is 75%, just like they're doing with BBBYQ running it from 10 to 30 cents, but in the end it'll be canceled and be worthless they did the same thing with JCPenney and it was still trading at 10 cents when they canceled it.
When they come out of bankruptcy and survive, they usually cancel the Old Stock and issue new stock, so I don't know what they're getting so excited about.
But people will rush in and buy at dead bottom hoping it ticks up one or two and they'll be gone.
I've never seen a situation like this with a OTC but then again I don't follow a lot, has anybody ever seen anything where they actually came out of bankruptcy and the stock was worth something, I think no?
I think if they ever even do come out of bankruptcy they'll be a whole bunch of more stock that needs to be issued.
What a Sad joke the OTC has become
at least some of the penny stocks and low price stocks in the NASDAQ and the other exchanges, they have to have listing requirements obviously, in other words they have to have money or they get delisted, in that in a way sometimes protects the small investor from continuous solution
You don't have to be too smart to know this is your average OTC stock and they're just here to keep issuing stock to stay alive so the CEO can get his pay and medical insurance, just all dilution scam in my opinion
I would imagine they're trying to cover their tracks or to look as much like a legitimate company as possible. Who knows what will happen in the end it's one thing to accuse and say things in another thing to prove it in court and that can drag on for years.
Me personally, I just didn't like the price action around the penny it just seemed like sellers kept coming coming so I got out around a penny a little under.
I was just curious to see how all that stuff on Twitter with Crown King was going to end. The thing is: people need to realize that that market in 2020 were people were made millionaires is gone and may never come back, ever, the Market's changed so much now you have to trade the market that you have, not the one that was in the past.