Phew, just got home, and a bit liquored up ... here goes:
I will have to say this, by no means am I an expert, but I have never seen a ticker traded like this.
First, in a short time there was massive dilution - when I first caught on to MMEG early this year, there were about 240mil OS. I can only guess how much there is now, but the Q3 10-q will answer that next month. We all know why: first it was for operations costs, settling debt, and acquisitions. Now it looks like the revs from those acquisitions are now covering operation costs, and dilution shares are for acquisitions only.
The added shares had the expected result of the drop to the PPS, but I never imagined it would get this bad.
Second, the volume & accumulation here is unreal. Every day, shares are being bought. Many are retail with short-term goals .. as evidenced by that huge Ask of 1.1Bil when we left the No Bid arena last week, though it was brief. Many shares were also bought by longs -- .0001s are great to average down. And there's no better entry price for a new investor here than these levels. Then there are others who I can't figure out, buying big blocks. Usually, when a ticker goes through something like this, volume slowly wanes, interest drops, and by now we should be averaging 1mil shares traded a day - sometimes less ... that certainly is NOT the case here.
Finally, they're still filing. MMEG is OTC current, and have been filing their 8-ks, 10-qs, and periodically issuing PRs. Again, usually when a company is in this spiral, they go "dark." No filings, no PRs, etc. How many of those have we seen in the sub-pennies? On the OTC they go to Yield sign, to Stop sign, and for some, the Skull & Crossbones.
If MMEG is able to pull a rabbit out of their hat, settle a long term financing deal, build out what vehicles they bought (as they're doing with Poolworks now), make good future acquisitions ... and things turn around (like many of us believe & hope), and finally tackle the SS, then the story here would be epic.
Now to go sleep this off.
