i used to be a believer here but the only reason for the RS is to get more toxic loans. no one will give mmeg a loan cause the toxic lenders cant sell out of it to make money.
mmeg has plenty of room available to keep issuing shares. mmeg is no where near the AS limit. this was known from the 8k on Dec 12. MMEG and close shareholders own 52% of outstanding which is 6,798,033,108. That means 100% of outstanding shares are 13,073,140,592.
whats interesting is that MMEG Board of Dir had to use shareholders to get to 52%. these "shareholders" are friends of management. these friends cant sell anymore.
as far as the other toxic lenders, they are most likely upset that they cant sell out of their positions too.
once the RS happens, mmeg will continue its decline because mmeg will get new toxic loans.
