The baby step weeks are over. Recap of latest developments:::
1)No principle payments on new 42M non-dilutive loan due until Oct. 2016
2)Smallcaptraders.com recommendation:
Given the history of this company and its former market cap of nearly $500M, it’s safe to say that the
company has reached rock bottom. It has however
demonstrated that the management has not given up
and is working towards fixing the troubles that caused the share price’s demise. A very significant part of
those problems was the ever diluting convertible debt. As of today, this has been retired, and the
company
has issued a senior term loan worth approximately $41M. Additionally, it is safe to assume the company
will not be issuing equity any time soon and therefore dilution should remain at a minimum. These are all
positive signs for ECIG and the long i
nvestment thesis for this company remains. A recommendation to buy
and hold this stock is appropriate. The company has hit the bottom; only one way for it to go.
3)Short selling positions finally very uniform over longer stretches no matter what the trade volume or PPS move:
Apr 29 35.21% 0.669 0.55 0.595 1,006,740 2,859,073
Apr 28 33.65% 0.649 0.41 0.636 3,024,908 8,989,245
Apr 27 33.94% 0.405 0.365 0.38 255,032 751,343
Apr 24 35.27% 0.40 0.355 0.395 291,742 827,121
Apr 23 37.71% 0.405 0.37 0.375 351,514 932,113
4) #1 read on Ihub board again; other boards stopped pumping and bashing, too.
Rank Board Reads News Quote* Last Change Chg% Volume ?**
1 Electronic Cigarettes International Group Ltd. 40,776 ECIG 0.595 -0.0408 -6.42%
2,861,573
I accumulated 50k shares with an ave of 0.72 (high because one third was from pre RS and I never sold big positions....I will start to strip 5k share increments at a PPS of ~$2 and keep a core position of at least 25K for the 3 years that I believe Dan runs the show and vaping will drastically increase.
Have a nice spring everyone, esp. you Cuin2
