Theory on the Constant Selling...
We all know that someone/something has been unloading big amounts on the bid for months almost nonstop right?
3/7/2016 1110 UNITED US7454 20,000,000
From Quarterly Report posted May 13... "On May 2, 2016, the Company issued an aggregate of 82,500,000 shares of its common stock to outside investors for $450,000."
5/2/2016 1110 UNITED US7471 80,000,000
5/2/2016 1114 BBBY US7472 2,500,000
That averages out to a little over .005 per share. Is there any way to find out whether these shares were restricted or floating?? Who is UNITED? They would be the only ones to have that kind of size since this has been CHRO in my opinion. All the other share issues since Dec. 2015 were under 2 million shares a piece besides Vernier (which I think we all remember the 7.5 million share dump in mid-May, so they've already been sold) and the 20,000,000 share note from January 2015.
Look at the chart starting right around May 2.. besides a few bounces, it's been mostly red. We always say here on the board that it seems like someone with a low average or a load of shares based off the way they dump with no regard for the PPS... seems to fit the bill, they would have both!
Not bashing, I'm still long as ever this stock, just asking for insight from the more seasoned investors here! My knowledge of share issues is sketchy at best.
GO CHRO
