One of SG's most pressing problems IMO is the deal he made with Fife, where Fife paid the $250k balloon payment SEEK had due in October (because SG had no cash to pay it himself), and in exchange SG has to pay him back, presumably with substantial interest, in 8 monthly installments in the form of cash or shares. Not counting interest, that's about $32k due each month.
Obviously those payments aren't being made in cash, as verified by the O/S increases each month since October and the fact that SEEK doesn't have the revenues to keep itself afloat without selling shares, much less service all its debt. So for the next five months, every month SG has to issue Fife at least $32,000 in shares.
Based on the many other Fife notes you can find on the OTC, it is likely that, as a form of "interest," Fife gets his shares issued at a steep discount to market, probably around 50% of the recent low share price. SEEK has been touching .0002 lately, and certainly seems like it will be hitting it more in the weeks ahead.
So, $32k converted at 50% of .0002 (i.e., .0001) is 320MM shares. Just rounding out for simplicity's sake, this all boils down to the fact that SG, in addition to other debt holders who likely are converting debt given how many different MM's are on the ask, will IMO have to issue 300MM or so shares in January, February, March, April, and May, just to pay his debt to Fife. That's another 1.5B shares right there, which, sadly, is not that outlandish by SG's standards.
IMO there is NO WAY this stock will be able to maintain a bid with the flood of shares that have been and will continue to come into 2015. A couple more weeks and instead of .0003 x .0004 with occasional dips to .0002, it will be .0002 x .0003 with occasional dumps at .0001, and a few weeks after that, if not well before, we will see .0001 x .0002 for awhile and then no bid, with debt holders then converting at .00005 and lower and stacking the ask at .0001 with hundreds of millions of shares.
These schemes work because, at each step down, there are flippers willing to buy millions of shares intending to sell a tick or two higher, but here the buying interest is so low, and the line at the ask is so long, and so stacked with MM's getting their orders filled first, that IMO flippers will have a hard time getting out higher than they bought in, even by one or two ticks.
Eventually, nobody will even buy .0001's, and then there is NO CHOICE but for SG to R/S because he will still need to be paying off debt holders and they won't be too happy with no bid even at .0001. SG will have to get the PPS up to increase liquidity, and the cycle begins again.
I doubt it will take much more than a month or so for this all to play out, but we'll see...
