DABOSS: You were one of those who sold on the day the EDIG topped out at $24.50. I believe you said your order filled at $22 5/8. There were only 2 days in which EDIG traded over $20. Congratulations on your gain that may have been as high as 40,000%.
Unfortunately, during that time when you were selling, the hype about EDIG had reached such a level that there was a phenomenal buying frenzy. While you bought low and sold high, others bought high and are still holding. Sadly at that time, the only voice of reason were the EDIG critics, who were unfairly labeled "bashers." The critics correctly pointed out that with the huge numbers of shares outstanding that EDIG was horrendously overvalued.
Now, 3.5 years later, the number of shares outstanding has increases by 10's of millions more with another massive dilution registration scheduled to occur within the next 40 days. Even at $.20/share EDIG remains wildly overvalued. This technically insolvent company that has had a negative gross profit (i.e. negative revenue) for the last 5 quarters has a current market cap of nearly $30 million. If it ever has "earnings," the P/E ratio, even at the current $.20 share price would be outrageous and unwarranted.
The sad reality is that given the financial status of e.Digital, its reliance upon dilutive financing methods and the incentives of its financiers to short sell the stock, the expected impact on the share price is to continue its downward trend (with small spikes along the way based on hype).
AI
