This is my full-blown ramble. Okay, my disclaimer is this: what follows is purely my speculation and opinion and I have a slight propensity for wearing tin foil hats on occasion.
With all that being said - I have a serious question to ask all of you. Is it possible there was a friendly or unfriendly takeover today involving over 51% of the shares and/or control of the company? Correct me if I'm wrong, but three things lead me to this being a distinct possibility. Number one is the dilution factor. Normally when a stock dilutes massively, the PPS goes down as the volume increases towards the end of a conversion burn. In this case, the volume blew up towards the end of the day and in fact gained a 146 million after hours.
The second factor is the float. The largest percentage of the 359 trades that took place today appeared to be buys. Since the last advertised float was 624 million, the 673 million traded today exceeded that by 49 million shares. That is not counting the over 400 million shares traded yesterday. Now I do not know what percentage of that is retail, but I doubt that a lot of us traders have that much in our piggy banks at home, because we are looking at almost half a million dollars being tossed around like confetti.
That brings me to my final point. All of this has taken place without one PR being issued or one filing taking place. Now we know that back room deals happen on the OTC all the time, but who throws a half million dollars into an .0008 cent stock in one day with 5 billion shares authorized on faith alone? Who does that? Now I'm not telling anybody what to believe. I'm just asking a few questions out loud here and I hope somebody can illuminate this poor half-drunken soul on their quest for knowledge. Thanks, and have a great night.
