Most of these pink sheet stocks are highly manipulated by the market makers (MM). Probably 95% or more of them are just "fluff", meatless bones or whatever you want to call them.
This one is ready to pop up just because this time it has been sitting at these levels and the MM have not been able to get a hold of all the shares they wish to control. Today, for instance, first time in many days of not weeks, I see the ask sitting with over 180 million shares. Do you think it's because a lot current holders want to bail out? Don't think so, I think most of the "additional" bulk today from previous days are MM's stacking the ask making it look like a lot wants out and see if they can people to dump at the bid. This is usually one of the last "tricks" they resort to before starting their "wash sales", that is, start selling and buying among themselves making the stock looks like is going to "da moon"...!!!
So they get rid of their inventory at a hefty profit... the only problem is, if you're a new buyer, make sure you set up your sell order as "stop limit on quote" so that when it starts coming down again, you bail out with a profit.
This is one of the most illegal schemes done in the market, IMO but, the SEC turns their eyes the other way. It's like a musical chair game...!
There is, of course, the possibility that the company comes out with what looks like a good PR... whether real or not.. !
Whatever I post after 8:00 PM EST don't take it seriously because the Vodka may be running thru my arteries...!!
