The share split flop tells a story?
Since the pumpers are rehashing old garbage on this junk I thought I would re-post my comments from yesterday. This is the true story about this Company (I use the word "Company" very loosely) over the last 3 years.
When Grillit announced over 12 months ago that all existing shareholders of record would get four extra shares for each one they held, the share price was fluctuating between $3.50 - $5.00 (unbelievable). There were 37 million shares outstanding at that time. So that means as of 8th August 2014 another 148 million shares could be outstanding, if everyone that received their extra quota made them available to trade.
Isn't it pitifull that here we are 5 weeks after that date and only 6 million of the 148 million have been added to the amount of share outstanding. This is obviously with good reason since to register your extra shares and make them available for trading costs money and with these hovering around 2 cents a share it's not worth even bothering about, since the value of the extra shares wouldn't cover the registration costs. This POS is not, and never has been, anything more than a con job.
There were enough people, including me, warning everyone 12 months ago that this Company was conning people, and so it turned out. This thing is going nowhwere fast, it has lied about new restaurant openings in the past, the franchise stories have been circulating for the last 3 years and are still pie in the sky stories. And then there is still another 140 million shares 'that could' be made available to trade should the price ever go up, but what does that do but constantly dilute the share price, it looks a recipe for stagnation to me.
Don't look to get rich here anytime soon.
