Yup, I agree. I knew there was going to be pressure on the PPS until the converted shares got sold. It was no secret, it was right there in the 8Ks and Annual Report. I continued to accumulate to "average down," but did not think it would be at these levels.
These EOD T-trades we've seen the past 2weeks ranging from 3mil - 9mil shares, I'm interpreting, as these note holders are expediting their exit. Which suits me fine and I hope we're almost done with this phase.
My concern is the future acquisitions (Neurofuse, Blackfox, and possibly another social networking site) will most probably be similarly done with shares. During that time, there better be good news, PRs, and a favorable 10Q for Q2 to spur buying to absorb those shares when they convert and the new lenders begin their exit - otherwise we'll be in this neighborhood for awhile.
Not for the faint of heart for sure.
