Still hoping, holding, and as Fox puts it -- one of those that's "loaded to the gills."
MMEG has been diluting and acquiring at a momentous pace for a penny ticker this past year. But, they've added a ton of shares in the A/S, and we'll know next week about the OS.
But, as Advocate noted, it can be intoxicating and many investors are concerned. The sharp drop in PPS, and increasing dilution was such that shareholders were contacting MMEG for an update on plans, an explanation -- anything to re-assure.
In the Sep 19 update, we were given the lesson of "supply & demand," which investors in the OTC are familiar with because the oversupply of shares due to companies financing debt through converting shares has killed many a ticker. Granted, many were scams and had stopped filing long before. But, MMEG was comfortable giving that explanation because volume here was unreal. Huge volume in the .0008s -.0009s, .0005-.0006s, and when we hit .0001s, hundreds millions more in volume with a couple of over 1bil(!) shares traded days. The dollar volume was routinely close to or over $100k! So in the update Kurt said: "Management is hopeful that the Company will locate and secure long term capital funding needs before the close of 2017."
But, because of the high volume, and converted notes were being bought, he followed up with: "In the meantime, corporate debt will continue to be reduced through current channels."
Now volume is about done. Those who are invested here for the long-term have bought what they could, other investors averaged down to where they're comfortable. Flippers are staying away for now because the demand is such that they won't be able to unload at .0002.
So now the AS and OS has become the 500lb gorilla in the room ... or the iHub board. I hope that now they realize how serious it is, and it's time to put those consultants (and they do have a talented group) to work and to come up with a debt restructuring plan, secure long term financing, and repair this SS.
I can't believe I'm saying this, but in a way I'm glad volume has dropped, because now I believe this force MMEG to address the above & grow more responsibly.
GLTA!
