Yo Hitman, I know you from over at the AM*E board. Along with everyone else, I have an opinion. I can't do this in a couple of sentences, so bear with me.
I've been in this since sub penny. When it started to shoot up from sub penny and trade in the .02's and .03's in late January/early February -- and -- it even touched .04 on one day -- that's when form T-trades started to appear -- daily.
I naturally assumed it was the company selling shares. The reason I say "the company" is because some of those t-trades were HUGE in volume. In fact, one t-trade was such high volume -- it was worth $480,000.
I don't know how to find a history of t-trades so I am not able to prove what I say. You'll either trust -- or not.
Personally, I had no problem with this. The company had no income and if they were going to make acquisitions like the cycloids company -- and if they were going to conventions to pursuit contracts -- and whatever other $$$ they would need to conduct business -- well -- without income, they would certainly need to sell company stock.
Again, not a big deal for me. I was gambling that there would be a happy ending here based on what I knew at the time -- or what I hoped would happen.
And of course, everyone was coming out of the woodwork >> "WOW -- look at those big buys after hours." Uh, excuse me but no one in their right mind would spend $480,000 on a pink sheet with no revenue and promises only.
And so I posted my opinion on what I assumed was dilution and I received the reactions you might suspect -- along with some very nasty PM's.
I contacted the TA and they told me "We have a gag order." I emailed Mike Starkweather and asked him what I thought was reasonable request >> "Mike, I am a shareholder and I own a lot of shares. Could you please advise me on the current share structure?" I got no reply. I tried again and still no reply.
Meanwhile, a couple more replies came in from the board >> "There is no dilution so stop spreading false info."
Once again, and I don't believe this to be an ignorant question >> "Uh, excuse me but who would spend $480,000 on a pink sheet with no revs and no signed contracts?"
And now, there are opinions that the company is buying shares in HUGE chunks and keeping the share price down. Okay, so what are they using to buy shares? They have no income.
What's my point? Since you asked, and since I have an opinion, I would be careful here. I am fortunate. I sold enough shares in the .03's to cover my cost, put a nice chunk of change in my pocket -- and now riding free shares. But what about new buyers and what about this >> until this company has income -- well, just watch it closely.
There are already plenty of folks in the red...buying at higher prices than the current PPS. One more point to make >>>
After the CES show, mgmt. dangled a carrot >> "Exciting things happening...lawyers are reviewing contracts...updates coming soon." Where are the updates?
And now, I await the hate mail. LOL. GLTY Hitman.
