Well not sure but the analysis here has been pretty good (both the good and the bad shared openly).
It is probably just due to the freezing out of conversions since the filings were delayed as someone pointed out. Combined with these efforts at restructuring. I was going to try to spin off a few shares to see what happens but Id be breakeven less a 9 buck commission and if it did not go back down to no bid/.0001 id be out of part of my position.
We really have nothing to go on though. Though it does appear that Bates convinced North Vernon to be a bit patient as he attempts to restructure.
When I first got in it looked like potential max value was .01 . As more shares were issued (dilution) that number approached about .005 (about 50x current prices) but if things deteriorated from there who knows.
A no bid stock is one of those few situations where a reverse split actually allows people to get out (meaning it starts trading and you can actually sell even if at a loss).
Right now I suspect some of the rumblings have people interested in buying but the supply of stock is limited so for a brief window the market makers will try to grab some shares to fill interest.
Probably wont last.
At the height its its pumped value the stock had a market cap of 160 million.
Now its like 400,000. Almost any survival deal should see that cap at 10-20 times that level. But the chances are slight, still a lottery ticket IMO.
Everything I post is my own opinion and people should always do their own research and due diligence on any company they are looking at
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