In my opinion, the reason the stock dropped -- if truly due to the Pennsylvania site falling through -- isn't due to losing a potential site. They have a bunch of potential sites. It's in the fact that they lost it because of failing to show financials. We can never trust companies' financials if they trade on the pink sheets, not even what they release in their quarterly and annual reports. There's no strict requirements or accountability. Clearly, that commission was suspicious enough about them to require that type of info.
They probably couldn't provide financials to that Pennsylvania entity because their financials are all corrupt. Don't believe it when BION tries to spin it that they realized there was something wrong with that site anyways so there was no need to provide financials because they were going to walk away themselves. It's like, "No, I dumped him. He didn't dump me."
I was a super long like most of you. I even flew to Florida and checked out first potential site and met with Bionitrogen, myself. I was warned by plenty of people about investing in this company from the beginning of it's initial pump and dump. I chose not to listen, thinking this company was different. Well, I've come to the sad realization that they aren't very different. That's not to say that there aren't opportunities to profit from trading this stock, so I truly hope all the holdout longs from 2012, like I was, can get out with their shirts and not lose much, or even better, make a few bucks. As you all probably know and do already, just don't invest more here than you're willing to lose.
