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Sunday, May 15, 2016 11:07:21 AM
There is the 'theory' behind the pricing and the reality and practice. I also don't think you understand how the conversion works btw. Yes the 45% discount to the previous 20 days but it doesn't reset every day they sell, it is based on the conversion date which I mentioned prior (april 30th I believe and May 5th?- check my previous posts. On those 2 days all of the stock is deemed 'converted' and the pricing is based off those 2 dates). Your commentary suggests that you believe that every day they sell the are effectively 'converting a new batch of shares that day and the pricing resets based on the new 20 day period incorporating the decline in price that they have brought upon this stock' - that is not the case .
Now a 45% discount to (guestimate because I haven't looked at the prices)say 2.0 cents is 0.009 cents. So once they breach 0.009 they are losing money.
The reality (as you even allude to) is if no bid emerges they have to keep walking down their ask. When the stock is at 0.012 there isn't much to walk down to (ie buffer) and that doesn't account for the affect on buyers.
If you choose to dump 35-40 mil shares of a 1 cent stock (and its 1/3 of the outstanding shares) it will trend below 0.01 which will clearly remove bidders. That has already happened other than a few retailers averaging down and potentially someone large soaking up some of this float.
When the big buyer stops, retail is not going to be able to soak up all those shares, there just is not enough money nor interest to do so.
Moreoever, I am 100% sure the seller did not envision having to sell his stock below 1 cent and be in a bind where not selling would be the more advantageous thing to do given the comments above. The reality that the more they dump the more they scare away buyers.
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