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Saturday, August 26, 2017 4:41:51 PM
The end comes for these Microcrap scams when there is no longer any bids. Takes a couple of years.
dont want all the shorts
BITCF claims to have an O/S in their last bogus OTC filing of 304.9M shares. Current "Short Interest" is 419.8K shares. Most are likely non-delivered shares the insiders were dumping, and not true Short positions. Even if one wants to assume the unusual that the entire "Short Interest" reported to FINRA were real Short positions, then congratulations it represents 0.13% of the O/S. Also "wants" have nuttin to doo with it. The math should make it obvious that even on a normal volume day of 9M ave volume, <419K will have no trouble covering. Not to mention post suspension volume will be huge, not average. As the stock plunges 50-80%.
and wealth managers on this board
Definition of "wealth managers on this board": Those SHs who bought this scam, and are attempting to manage their wealth.
As a golden rule: "Wealth Managers" as in Fund Managers do not invest in Microcrap stocks. Neither do they participate on IHUB or any other stock forum.
You have 3 options:
1. Sell everything for whatever you can get.
2. Sell N% - enough to keep you even or a profit, against the remaining held shares. Then attempt to sell those if the stock reacts to a future PR pump. Yet to come will be PRs announcing the company is feverishly working on finding a MM to sponsor a 211. Usually takes more than that to overcome a 80% price plunge.
3. Hold everything. As mention above in a couple of yrs the bid will become non-existent. Then one will have to go through requesting your broker certify the stock as non-tradeable so that you can declare a tax loss. Some greys continue to trade for years as zombie shell stocks. Which can complicate things.
GL.
The Jewel of the Mind is Colored with the Hue of what it Imagines
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