I have written the following to management earlier today.
''... My concern, shared by others, is that the share price of ForeverGreen - even after your excellent results and outlook reported this week - is still being manipulated by someone or some firm that must have bought a huge amount of your stock early on and seems un-relenting in their selling over the past 6 months. It seems that the only way for FVRG's stock price to rise is for management to start buying some shares themselves. However that be financed, management purchase of common stock at what is now an attractive low price of 96 cents would demonstrate unequivocally to the general market and fellow shareholders their strength of faith in the company.
Common shareholders are aghast at the share price continually being held down. Pushed to as low as 85 cents just a few days ago, and although since up 10 cents, someone still continues to sell large chunks of shares every day, typically first thing in the morning and then towards days end. It has been done for 6 months now, starting when the price was close to $1.90 and it is clearly stopping the share price from rising to where it belongs. Yesterday's announcements should have pushed FVRG at least 20-30% higher. By day's end we finished only 3% higher, mostly due to the selling of large chunks at the end of the trading session.
Clearly there are not enough individual investors out in the world capable of countering the regular selloff and we all know that investment firms will not invest in FVRG whilst it is still an OTC stock. Short of reporting the problem to the SEC, the only way to counter is for management to visibly buy some shares themselves. With such a low float, this would have the effect of pushing the shareprice up significantly and showing investors that you have full faith in the direction of your company. It would also ensure that long-time shareholders need not sit in fear of large reverse splits to allow for an uplisting to a more significant stock exchange, an uplist that is surely soon needed to get institutional investors onboard.
The company, as management and existing shareholders can see, is doing remarkably well. FVRG should be a minimum of $2.75 or higher right now based upon current figures. Instead we sit at mid-90 cents. So how about some real stock support from management here? Your shareholders, present and future, would appreciate that enormously, for we are the only ones not enjoying the successes of ForeverGreen and that needs to change.''
Anyone else wish to put a little pressure on management regarding this issue? They seem to need a push. Try craigs@forevergreen.org
