On4 Communications Inc (ONCI)

[moneym8ker]

The best move is to sell.

Steve tweeted that he’s delisting the stock.


He phrased it in a way that was designed to fool people.

He said he’s gonna talk to some people and take the company private.

That got some people thinking he’s going to buy 3.4 billion shares.

So let’s do the math:

Let’s say Steve is going to buy all the shares.
What would he pay?

I mean it’s selling right now for $0.0006. Let’s say he pays a 40% premium to today’s price and offers you all $0.0010.

That will cost him $3.4 million dollars.


Steve doesn’t have that.

The guy just wrote a convertible note against ONCIs shares for $90k so what makes you think he has $3.4 million?

The idea that he’d pay more is ridiculous.

The best anyone can do here is just sell and take the loss.