Bottomline:
Understand your frustration. However, using trading skills you should have worked this stock 3 times over the last 3 months.
The support and resistance levels are key in what this stocks pps does. Profited 3 times buying at support level and selling at or near resistance level. Taking profits off the table and setting proper stop loss orders eliminates this buy/hold mentality during the time of getting the merger in place. That way, you either make $ or bail and rebuy and a better pps.
.009-.01+- is the support level and .0156-.019 is the resistance level.
The accum. has been increasing with a small decrease nearterm. No significant drop compared to pps drop back to support level. Strength sign IMHO.
The 10Q being late and website not 100% is so typical of pinks. Not completing the merger yet is not a sign of struggling, just process with this particular merger. This co. in particular is in the business of acquiring asset based companies for profit. Many times attempted mergers or buys will happen.
SEC meeting will resolve itself and the OTCBB will take time.
The process to get OTCBB approval is tedious and long, regardless of the company.
Current chart shows pps at support level again and trailing up, with short term accum. decrease nearterm but minimal. The chances of dilution while you wait for proposed merger is not the question. Following the upside from the support level at this point is. I do not know what your in this for, but, remember, can always sell for a loss, take the short term capital loss against your gains this year, and reinvest the proceeds into a stock that will make you the loss sustained plus more.
I am adding at these levels with anticipation of the merger happening, but more importantly, chart technicals.
Best Regards, Time for an early morning run.
Not a buy or sell recommendation.
