I don't believe this is the resason. Waiting for cheap shares would mean a large bid but it doesn't explain a large and growing ask with a diminishing bid. Besides the difference is not really that big. It's been teetering between 0.0006 and 7 for a while. The difference is 166,666 shares more on the million when buying at 06 instead of 07, or 1 million shares more on every 6 million when buying at 06. I don't think this reason is strong enough to keep LTNC stock trading suffering this way. On the other side, consider the buy squeeze that was expected from Iconic Holdings to compensate for their converted shares and the price push it was supposed to give, and the huge sentiment in the market evidenced by this board with investors saying they have been accumulating shares, and the debts paid regularly, and the possibility that the advisory board members could be personally buying (if they believe that current prices are better than later's). So what's going on?!
Today 05 was tested. And practically the price is not too far from no bid (again) which could be a qualitative change leading to disasters. Leave aside all the calls that it would be a good chance to buy cheap shares because if it really reached no bid with all these happenings then most probably there would be something fundamentally wrong going on behind that scenes that could kill it or at least wipe out the current wave of investors.
Considering all that, I believe there's something suspicious in the trading of this stock and that Ryan should investigate what's going on. It's for the best interest of the shareholders to get the stock out of the trips up to safe levels to boost confidence, increase strong hands, decrease flipping, and attract new wave of investors, because the other plausible alternative is falling back to no bid.
At higher levels, the $2 million buyback would buy less shares yes but probably the whole buyback thing wouldn't be needed by then if the PPS is already at good levels and instead it would be the icing on the cake.
Hopefully we hear from Ryan soon about this issue or see a real appreciation in the share price.
Your money, your decisions.
