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Saturday, February 17, 2018 11:15:39 PM
This will automatically go to the grey market regardless of any update provided by any party. Unfortunately the system is flawed and/or rigged against us in this instance. You will not hear again from the SEC as they are not in the PR business. If you want to salvage some of your investment/trade the best time to do that is within the first 1-2 days but it will largely depend on your broker on how you go about it. Some do not allow grey market trades. Some require manual floor orders and some do allow normal trading on greys like Schwab. You will have to match both share number lots and exact price against any buyers to be able to exit your position. Usually there will be a plunge of 80-90% in the first 1-2 hours then a recovery pop up to -30% from last closing price but it will be erratic at best because of the lack of MMs. There will be buyers in this specific case since we have had large short volume the past 2-3 weeks but expect those to close out pretty early on the drop. There is a very small chance it will rise somewhat but again it will be entirely erratic trading. You can look up BIT*CF as an example of one that dropped large on the first day (roughly .60 to subpenny)and then proceeded to run from subpenny to $2.00+ in about 1.5 months or so. Any updates in the next month will NOT affect listing possibilities but it will greatly increase or decrease the potential for any price rise going forward. Any attempt to re-list will take minimum of 6-8 months but sadly is not likely at all unless the SEC says they will no longer pursue action against any of the companies because they disproved any and all allegations.
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