TheDirectory.com Inc (SEEK)

[Carini]

This is what sustained dilution by debt holders holding hundreds of millions of shares converted at .0011 (and maybe lower) looks like when there is no news to add any pump to the process:



They will keep selling, but they're not idiots. They will do it gradually and march it down in order not to collapse the PPS entirely. They will also orchestrate periodic spikes to give people hope and draw in new flippers on the bid, like they did a few days ago.

Once their .0011's are gone, it's down to the next trading range. Likely .0006-.00012 IMO.

Not trying to bash, just call it like I see it. Even once faithful longs have realized SG is an incompetent manager and business owner, at least insofar as protecting shareholder interest is concerned. I'm sure he's doing quite nicely himself, since the public is assuming all the risk for his venture.