DILUTION
On a massive scale by the look of it. Hope I'm wrong and Ive got someone in the stock world looking at it, so that's why I was waiting to say anything, but my first impression is we've been royally shafted and the reverse split was simply a way of reducing our shares, whilst someone else picked up, or already had the eqivilient of at least 500 million shares pre reverse.
It also means that when I bought 750,000 shares a year ago I was actually paying a huge premium to help a company in times of need. Now that really P"sses me off big time. Few people have ever got away with taking me for a ride as anyone who knows me will testify. I know that it's difficult to get legal on a company, but in my circumstances it's a different matter with an individual.
The dilution explains the immediate collapse when the split occured.It also means that there is probably still a huge overhang of shares in relationship to the current volume. Jonathons explaination of using the reverse split to lower volume was always nonsense as I said at the time. In fact, if you look at average volume since the split, it is actually higher than it was before. I'm also pretty sure that this extra number of shares have been around from the start, and the recipients have been the ones constantly selling into good news. If you had 10's of millions of shares for free it wouldn't matter what price you sold them at would it.
I think the best many of us can hope for is Medify to go well and we may just get our money back, and who knows even a profit. However, for the professional trader there's no room for hope, and for those that suffer from sleepless nights, I suggest you mentally right off the money as I have done many moons ago and move on. I can thoroughly reconmend Dr Van Tharps pyschological trader home studies courses for those who can't.
I take no pleasure in saying it, but apart from the 1987 crash which bankrupted me, from being well on the way to being a millionaire before I was 30, as well as jobless and homeless and forced to re-emigrate back to England from the joys of Sydney Australia, this is the single worse deal I've ever done. To think I only did it because I was helping a friend of a friend whom Ive never met, Mr T Bone.
The only good thing out of the Crash was I became a Private Detective, speciallising in corporate fraud and finding people who didn't want to be found. I was rather good at it. Just goes to show that whatever you do in life thats seems directionless at the time, at some point it has a purpose. Pink Sheets. No thanks. I'm sticking to the real world of Futures, Options and Fx from now on.
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