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Saturday, May 03, 2014 3:43:13 PM
It's done a whole lot of trading in the 1 cent to 2 cent range in the past 2 yrs or so. Bottom? Not IMO. Nothing has really changed about their poor cash position or need to continually dump/dilute shares for survival cash, IMO?
I'd wait, IMO. Bet you can get shares a whole lot cheaper than the present 2.5 cents or so. It already hit .022 just in the past week- like it's moving or gravitating to the 200 DMA, of .019, the ole 2 cent area, where it's spent a lot of time in the past 2 plus yrs. A drop to just 2 cents from here, would be a 20% loss. Patience IMO.
It's in a solid down trend right now and they just authorized to increase available shares to 2 BILLION outstanding. Not exactly a sign of strength, IMHO.
The 10-Q will be out shortly. I'd at least wait till then and see what the new shares outstanding are (how much more dilution has occurred since 10-K), what the cash balance is (how low, or did it increase at all, etc), how much/many convertible share "toxic" type financing deals have been done (if any) since the end of 2013 10-K was issued, etc.
10-Q is not far off, why wouldn't one wait and see what it says? See if MIRROR gets any update, or the same "barely mention" as the last 10-K.
This IMO, doesn't appear to be a "bottom" at all. Dilution, and lots of it, on-going, will only push this lower over the long term, IMO
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