Viking, thanks for your PM comments.
This (below) is just a re-post of part of a message that was deleted yesterday. Thanks to the "suggestions" from another moderator, I've removed anything that triggered the deletion.
Today's price action and my previous message are mutually supportive:
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1) There are ~500M shares in the float, with a market value in the range of $25M - $35M over the past 60 days. This constitutes ~10% of the OS.
2) With an average daily volume of ~500k shares trading, that amounts to 0.1% of the float, and only 0.01% of the market cap.
3) It is easily seen that over the past year, selling (PPS drop days) within the band of 0.04 to 0.07 has been very low volume. I'll estimate that there are maybe 15 or 20 million shares in play - TOTAL - and that the rest are locked in long-term investor vaults. You might as well say that the "freely" traded shares - the EFFECTIVE float - is only WITHIN the ballpark of 0.4% of the OS. To be clear, this is an estimate of TOTAL shares in play, even considering the spurts and pops like Dec2014-Jan2015 from .05 to .07 (40%) and Jul2015 from 0.04 to 0.08 (100%). Some of this was profit-taking from long investors and swing traders, and a significant chunk of any sales were purchased by new long investors, or repurchased by the sellers (swing flippers) at a lower price. So to say the EFFECTIVE float is even half of the 20M share estimate is a real stretch (IMHO).
4) If the EFFECTIVE float is 0.4% of the OS, then 99.6% of the OS is locked down pretty tight, to say the least.
These ramps and dips on low volume don't reflect any changes in real value, and will have no impact to the holders of 99.6% of the common stock. They're just limited-time opportunities to buy shares at a discount... what some people want, obviously.
Obviously, it's difficult to flip a stock and make short-term gains if there's no movement in the PPS. But if it's a good company/stock and you can push it down, now you can do something with that - because you have every reason to believe that the only reason it's down is because you shook a few shareholders... and it's just going to come back up.
So let's see, it's down to .05 from .07 so... that's a 40% gain opportunity for the climb back up. But again... low volume - would be lucky to buy a large enough chunk at the current price to make it worth the trouble.
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EGPL isn't a flipper, it's an investment. The current price opportunity won't last long and as the upcoming news starts breaking, good luck buying a position anywhere near these prices. Best to buy at a price that you can hold and, if you want to have an interest in the growth and profits... don't sell your shares. Hardly anyone else is.
