Alright maybe some of you missed this: This is what I think happened today.
I was pretty certain that T-trade was going happen. IT MEANS THESE WERE ARRANGED TRANSACTIONS AT AN ARRANGED PRICE. Today looked like a reorganization of shares/capital to either setup a share exchange agreement or it was orchestrated so that Bill could liquidate shares. SPC_L did this same shiz for months when their former CEO was throwing a fit about the severance package they gave him, and it became obvious after a while. It took so long over there because they had to tank the PPS back down to their targeted conversion rate because they didn't expect it to be as high as it was (basically I think penny traders messed that situation up for them).
Here, instead of walking the PPS down, it looks like they just bit the bullet due to their self imposed "deadline", dumped shares to bring the PPS within the target range (0.0016-0.0019; I don't believe those .0015s were intentional, I think MMs lost control there for a moment), provided millions of shares worth of support to keep it in their channel, and executed conversions with millions of shares.
It's easy to spot when you start seeing 1.8 million share count trades go through without showing up on the ask or bid, while a meager 75,000 share trade by a retail MM will sit on level 2 for hours right between a nice NITE or CDEL sandwich.
Not sure how the market will behave in the morning, or when news will drop. We could see another 15-20% drop in the morning or an increase. This is all pretty dependent on news. Either an NVSOS update or a PR and this runs.
If we don't get news tomorrow, this will drop lower (say another 30%), and we will likely see more conversion. If that happens, then the first PR was just a setup to cause a sell-off tomorrow to bring the PPS lower (I swear this is what SPC_L did with their "deadlines"). The only way they can break support is by getting peoples hopes up, otherwise many are comfortable holding. I don't think this will happen. I'm expecting news tomorrow.
Today was uncomfortable; I expect that to change tomorrow.
PEW PEW PEW
$D$
Now you Dwyane me, now you Dwon't
