It's market-driven, earnings which and BTW EEGI has NONE have nothing to do with the stock price. And as of right now the market doesn't really seem to love it. Especially given the overbalooned outstanding share count of upwards of 8 BILLION. Yikes! Doesn't even look like a bottom feeder seen from a mile's distance. With the volume this stock saw in the past even a moderately diluted stock would rally up like crazy. Plus with 7.5+ billions of shares in the public float it's hard to sustain a share price growth when your further dilution promotes otherwise.
The share structure and market cap info you're reading on OTC markets site is obsolete. At the moment of this writing there are more shares issued and outstanding then there were last year this time around, means the company's worth less then it was back then. We were told they were retiring MILLIONS IF NOT BILLIONS of shares when in all actuality they were doing nothing but selling more:
800 millions locked down plus potentially additional 600 MILLION block adds up to 1.4 BILLION shares locked down. Right?!?!?!
Besides, this poorly writen sentence is vague and misleading to say the least:
"In talks with several majority block holders for share lock up to significantly reduce the float"
How is locking the share count down significantly helping the reduction of the float? You're either buying shares back or you're not selling more. Which is it?!?!?!?! NEITHER !!! More dilution in your face!!!
WOW!!
For what it's worth, according to the latest and greatest 2017 financials the company generated a whopping $1,000 in revenue.
Overvalued at .0001? Nah. Worthless would be my word of choice.
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