I don't think the MM's are out to beat this up, or any stock for that matter. They have to work the bid and ask in order to fill the orders in front of them every day. Manipulating the price is the only way they have to do it. Sometimes the price swings wildly and is all over the place on small transactions, but any stock during periods of low volume will be very volatile. I think EYII has held up reasonably well so far since coming off the lows in early January. And it always moves up quickly when there is a level of excitement. I always ask myself if the MM's have filled all my orders just the way I placed them. If the answer is yes, then I have nothing to gripe about. The MM's don't look after my interests and they are under no obligation to see that the price never goes below what I have paid. They just do what they have to to fill the orders they get.
The 10Q was a summary of 2005 which was a big spending year in which the Hong Kong office, the Code Blue shipping infrastructure, etc. all had to be put into place. A lot of marketing material had to be created and paid for and the Hong Kong grand opening just took place in Feb. of 2006, launching the new penetration into the Asia market. So of course it is too early to expect positive numbers out of all these new efforts.
The Code Blue filters were delivered ( at long last) during the HK grand opening and according to Jay "The final Code Blue filters are now in CEIEC's hand and off to the Chinese government for March review." In fact, I just noticed he said the FINAL filters. It makes me wonder if CEIEC has received other filters in the past that didn't cut it. We have just heard of newly designed filters that solve the flow problem. I take it he means the ones with the flow problems solved, but I am just guessing about that.
Again, investing in OTC's is a high risk business. Nevertheless, since the LOI was first anounced, nothing has materially changed. As far as I can see everything is still moving on. The only concern I would have is equity financing going forward until we see CEIEC revenues.
jc
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