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I remember fighting the same fight you are fighting now. It wasn't about RS but it was in defense of this stock. I defended the company which I thought was defending the stock. Now, luckily mine did go up but it wasn't because of my defense. I assumed that the negative posters were there to pick up cheap shares and maybe they were but the comments they made didn't get the price down. I can't speak for any other poster here but I'm not beating a drum for a RS. I am merely telling you that an imbalance in pps must occur to the downside in order for a run do occur to the upside. This can't happen at this point in time because you really can't go down from here. Thus, the best way to get a run out of the stock despite whether the company is legit or not is a reverse split.
Again, not after any shares at any price at this time. Next year, I will buy some shares post rs and post decrease in pps.
To comment regarding your other point. Just because a stock has a reverse split and then falls doesn't mean it is time to buy. If a company waits too long to RS the stock, the is more bad that can come from that than good. See, if a stock is supposed to fall but it can't because the price is at .0001, then the stock is forced to change its end result. The number it would have gone to never hit because it couldn't. The longer it can't, the worse it can get lost reverse split. From a company standpoint. It is basically a guarantee that it would have to do another reverse split without there being any positive run after the first split.
It does apply to all stocks not just otc. It also applies to crypto exchanges, commodities, and forex. The stay away part applies to ones that aren't at bottom. In some cases, a stock at. 0001 is at bottom and other cases it is not. You must understand that it is not about the pps. It is about the pps at a given time relative to the pps at a previous time. To be more precise, a specific previous time. This conversation is extremely long and technical and to be honest, this really isn't the platform for it. However, I am willing to have it on a more private platform. Ie phone, email. As for this stock. I keep reading how I am trying to get shares at .0001. The logic is flawed because if it was going to have such a huge run, why not just buy 100 mil. at .0002. It would be more efficient than trying to convince people to sell to me. I'm not interested. If people feel so strongly about the stock because they feel so strongly about the company, then they should go ahead and make that purchase. There is some good that can come from a lesson in loss.
What exactly am I going to learn here? The more you buy the ask, the more the MMs will sell on the ask. They wield infinite power. Do you believe you can overcome computers that will just keep selling shares no matter how many shares in float? I'm telling you that it will only go up when mathematically ready. You're not there and you won't be there unless there is a reverse split which will allow the drop to occur to get you there. Add stated before, I hope everything works out for you.
It may fix capital problems. It can't and won't fix share price problems. Listen, the company could make millions tomorrow and tell the world. It won't change the share price. It was a tough pill for me to swallow when I first learned this but the world is not what you think. The system works differently than what you have been told. Don't want to get into any conspiracy talk here and this is not told to me but rather my own personal journey. Take it for what it's worth which is nothing since only a few people here know me personally. Good luck to you. I do hope things work out to your benefit.
Again, capital is a company problem. Everyone here is dealing with share price. Completely unrelated.
Sure is. Doesn't solve the stock problem though.
The problem is not solely the ability to raise capital. It is a mathematical problem that cant be overcome at its current level. A RS solves that problem. The raising of capital is a company problem. The mathematical problem is a stock issue. Two completely different things.
Ok, our opinions differ. I accept that.
Yes, that is exactly what you should do. The problem is that this stock is not at its ugliest. The biggest problem is that this stock can't mathematically get to its ugliest in its current state because you can't go below .0001. The kindest thing that can be done here is a reverse split. That way, the stock can then have the room to reach its lowest levels. The alternative is to sit here at these levels indefinitely. Believe me when I say a RS is the best thing for the stock and probably for the company too. Remember, these two things are unrelated. The RS will allow the company to raise capital which most will call dilution because that will be what it looks like when the share count increases while the price decreases. But, again, they are unrelated. For current investors, this will suck. However, for future investors, it will be a good investment as they will truly be buying the stock at its ugliest. Look, I'm not here to convince anyone what they should do. I will give my opinion on the matter and you can tell my thanks but no thanks. But I am not interested in cheap shares because really, if this was going to go to the moon, what's the difference in buying 1s or 2s. My advice is to sell, if you can, then wait to buy back in way down the road. Im not knocking the company or its people. I have had many conversations with them in the past and I can't tell you if they are good people or if the company is legit. I concern myself with the stock because that it where the money is made or lost. I'm mean, in any publicly traded company, if they make more than expected profits, I don't get a piece of it. If the stock price goes up and I sell, I make money so I don't really care if the company is legit as it has zero effect on my bottom line.
SS1, are you stating that the charts here look good for a buy in at this point? If so, how?
Dj, I am not saying that advertising your ticker doesn't bring potential new investors, however, the smoke and mirrors of the volume being from retail investors as news is coming out is why you are in this mess in the first place. Who control the direction of the market? I wish supply and demand rules were correct they way they are taught but the question is not whether the price went up because the volume went up but rather who was the volume or more precisely was it real volume? Real volume being shares that are purchased from one party by another rather than fake volume, shares purchased by one party from the same party. Sure volume goes up, maybe even the price goes up, but was it real volume?
Dj, most don't understand this or will ever acknowledge it but pumping anything doesn't work. Also, the inverse of that doesn't work. So, love it or bash it, it matters not. People play no real role in the markets. Sounds weird to say but the individual or group investors merely act within the markets current state at the time they bought/sold without causing uptrend or downtrend. So to all here who love MINE or hate MINE, it's past state and current state are finished and it's future state is written. If I were to buy shares in this stock at .0001, it wouldn't be because the stock was bashed, it would merely be because the .0001s were there to be purchased at that time. If it had a run, it won't, but if it did, it wouldn't be because of anything the company did/said, or how much they paid to pump it, or really anything external to what controls the direction of the market. It would merely be an opportunity for people who bought lower to sell higher. I am not a basher of this company. The stock is just bad news. I say that without ever getting burned here and actually making a lot of money back in 2013 and 2014 both in the purchase of common stock as well as a private placement with Minerco.
DJ, No one gave a prediction that the market cap would only be $75,000. I understand how you might think that is what I said but to clarify. Yes, if it were possible, losing 90% from current levels would equal that number. However, that is not possible. You must take into account the fact that they wouldn't just RS and let it just go on. They will RS and then add shares into the mix. So for the sake of argument, lets say they do a 1 for 1000 RS. At that very moment, the cap would still be approx. $750,000 and of course start falling. The question is, at what rate would they add shares to the mix. I mean 7.5 million outstanding isn't all that much and they could easily multiply that by 100 and it still be considered a very low float. So lets say they did that and you lost 90% at that point. Now it's worth .01 a share with 75 million outstanding shares. Cap is still $750,000. This means new investors at that point are fine, current investors are screwed. Don't twist what I am saying here into something else. This is how money gets created everyday and only certain people are left carrying the weight. Others, maybe even me, will reap the benefits of that scenario. Don't get so caught up in company operations to think that it plays any role in the pps. Just my advice.
Dave, I can see why you might think that. I mean how can someone tell the future right? By no means am I a profit prophet. However, take a step back from all markets for a second. Securities, commodities, Forex, Crypto, everything. Tell me the one thing they all have in common. There is a common thread to all of these markets that people talk about everyday but have the completely wrong view of and don't look at it in the correct context. If you can tell me what the one thing that they have in common, I will tell you how you can see what something will do in any of these markets. This is not telling the future, that would require a higher power which I do not possess. However, what if something were right in front of everyone hidden in plain sight. It likes being so close to something that you can't make out what it is because you are so close. While bitcoin will have up and down movement trading laterally or to be more precise avg. laterally, there is a major drop coming. It is not possible to escape that truth. FYI, I like the crypto idea. But one must also consider why it exists. Like many things that are good ideas, they can be used for other means. Nefarious means. This is a major one. But I am not bashing bitcoin either. There is no sense in bashing any stock as it doesn't change anything. There is no good stock or bad stock. One that is good today can be bad tomorrow so good/bad are relative terms. You can have a good company or a bad company but their stock prices have nothing to do with that. If someone were to ask me about a stock being good or bad, my answer will always be when? Today, Tomorrow, Next Week? Next month?, next year? It's all relative. I won't try to convince anyone of anything, I will share my opinion, based on what I see. People can take it or leave it as is their right. Most people are so jaded that they can't tell the difference between someone with an agenda and one without so there is no point in trying to convince. This is my last post of the day as this is a free account but I will reply tomorrow time permitting. Take care.
Yes, that is correct. Unfortunately, this will not happen before a RS. It is not possible. But the one reason it is not possible has never and will never be mentioned here. I was here is 2013-2014 and both of those runs were great. It had nothing to do with news, products, revenue, or management. Yes, Vanis might be a clown. He could also be a victim. I haven't decided yet. Is the new company legit? Who knows. Who cares. I can tell you this, If they say they have 10 machines, that is not a mining company. Not even a small one and not even a startup. Anybody that knows anything about crypto knows that. Now, everyone talks about how bitcoin is starting to stabilize and come back up. BS BS BS. That won't happen for many months. Basically, here is the future of this ticker. Bitcoin has major decreases in value over the coming months. This gives Priwen/Mine good cause to RS since they are allegedly losing their ass. They aren't because it's kind of hard to lose your ass off 10 machines. After the RS, the stock bottoms out call it 70-90% from current levels, taking post RS pps into consideration of course. Bitcoin will start to stabilize next year and start coming back up. The news for Mine will start looking better. These two things are completely unrelated as far as price movement, it is just good timing. Coincidence? Mine will then have a surge in price at that time, anyone in it now will be either be gone or bought more shares for that run. Any current value will be valued at next to nothing. This is not bashing, I am simply telling you what will happen. I have no dog in this fight. I have done a private placement will Mine/Vanis in the past back when I didn't understand this BS game. It was a success despite not understanding the game in its entirety. Take this advise/warning however you like. Don't buy this stock unless you want to watch your money go to next to nothing. I am not paid to nor am I qualified (legally) to give you any advice. I am doing it because I am watching this thing unfold and I can't sit by and watch some of you just throw money away. That's all. Good luck all.
AR,
You are still dealing with this ticker after all these years? Time to let it go brother. It matters not, this new deal or any new deal. However, I do understand the position you must be in with Vanis and associates. I say this without having gotten burned from Minerco as I was out in 2014 as you know. I don't remember my old screen name here so this is a new account. My brother just called me and asked what was going on with Minerco so I looked at it and here I am.
CR