Saturday, May 26, 2018 11:00:14 AM
The reason that was put in place was to support the capital raise that Spectrum King required of BANJ in order for the RM to move forward. In that the shares were not used and Spectrum King decided not to hold stead-fast with the capital raise and went forward with the RM anyway suggests there is no longer a need for the RS or the use of the additional shares in the AS.
So...in conclusion...anyone on the sidelines not buying out of fear of so the RS voted on almost a year and a half ago is not doing sufficient DD here...and will be missing some of the best prices around.
That's exactly why someone quietly bought almost 10% of the available float about 4 weeks ago...and why you see the gradual increase in the pps despite volume spurts only being sporadic.
Like AXXA a few weeks back, BANJ represents one of the best...and relatively unknown...stocks on the OTC right now...as far as pps increase potential goes. I remember several years back BANJ went from .02 to .10., caused by traders, just on the tiny float alone...years and BANJ has never increased their float or dumped on shareholders. Their owners have always been on the up-and-up and was likely the reason they chose not to dump shares to raise capital to move the deal through.
Lastly...only real thing peeps need to consider is the CEO of Spectrum King going 'on the record' last year in stating their annual revs at the start of 2017 was 7mil and that 'conservative' projections left them looking at tripling that this year. Their grow products are top notch and affirmed via their relationship with Cree. No 'Nigerian businessman' RM PR needed on this one. lol. Just a little patience and accumulation of the dips where possible since the 11mil float leaves this trading so thinly. Tick-tock...
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