Wallstreetman
Your post reflects my own sentiments.I only happened across this company last week. The company and it's product seem legitimate enough and I think they have a real shot. But in the little time I had to research ,a couple of things prompted me to "wait and see" rather than jump in with both feet. First is the heavy promoting on various penny pimping websites. I know it is commonly done, but it brings is a mob of undiciplined "investors" who buy up shares and immediately go shopping for the yacht and ranch they are going to buy when it hits that one dollar price projection they all seem to use. The inevitable result is a slide in price on the opening day, because those penny pimping sites are generally paid in some combination of free trading shares and cash. They dump their shares into the hype they create pimping the stock. This always creates a buying opportunity if I decide to get in.
Second is the fact, as you point out, that I would have expected a newly rolled out trading software and it's website to be working gangbangers BEFORE I rushed into the grand opening.It looks very cheezy that nothing works , and there is still that "under construction" message pasted under every page. I feel completely justified having opted to wait and see.
Lastly, the last published capital structure for the company gives something like 122 million free trading shares as of March 3rd. A call to the transfer agent places free trading shares at about double that. So somewhere between March 3rd and yesterday a lot of restricted stock was cleared for trading. A poster on the RB called the company and was told that those shares are still "locked up". I believe that is what they told the poster. But I am a little sceptical about just how "locked up" the shares may or may not be. There was a lot of volume yesterday and the price ended down 20% which tells me dilution may be the culprit. All of this is speculation on my part, but this is a non reporting pink and so I will err on the side of caution.
If this is all for real, revenues will follow and there will be ample time to make money with this stock. I will wait until "amateur hour" passes and see where it goes from here.
Good luck,
jc
