The reason why I have been calling every day to check on the share count is that even though the 25-30 day convertible debt window has been closed for the last 1-2 weeks, I have been anticipating that they might tap the credit line again to raise more money for the CITIZEN TOKE rollout
They only tapped it once so far on 2/2 and raised $150,000
And so far they have not tapped it again
But I have a strong suspicion that it may be tapped again tomorrow or Monday and this is why Mr. Tew has been quiet thus far
The way all credit lines work is that the price is driven down immediately before the credit line is tapped and immediately thereafter it tends to go up quickly --- just like what we saw on 1/31 when the stock was pushed down to .0056 and then it tripled to .0155 in just 2 weeks -- and that was without news
It is generally customary for a stock to put out news immediately after a credit line is tapped so that the stock can move upwards afterwards
Today's VWAP was .009 which is much higher than it was when they tapped it on 2/2 -- back then the VWAP was .006 on 1/31, 2 days before they tapped the line -- they use the lowest VWAP in the preceding 5 days
Since they have adjusted it from the VWAP to the closing price, then .089 would be the price, not much different from the VWAP anyway
What this means is that the number of shares will be a lot lower this time because they can raise the same amount of money at a much higher price
The bottom line is that if the credit line is tapped tomorrow or Monday, it means that today's price action presented a great buying opportunity
We will know if that explains today's price action if the share count goes up within the next few days
If the credit line is being tapped, it also explains partly why we have not seen any news -- Mr. Tew is saving the news for afterwards, which is customary and expected
So if the credit line is tapped, we should see news next week and the quiet period will be over
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