Thanks for the advice. But I’m not so concerned at this point as I’m still long and comfortable waiting til buy out or oil. I was merely highlighting that because if my broker is doing this I am certain others are as well. And with so many investment choices out there the average investor that would encounter such a circumstance might simply look elsewhere to allocate his investment dollar or rebalance their portfolios. Generally not worth the effort to swim so hard against the current. Some might think “the juice isn’t worth the squeeze” to put it another way. This is what I meant with respect to the status of a non reporting microcap having a greater influence in the ability to generate significant volume in this name than the fact it is tightly held.
Now if those holding so much stock can persuade management to come current with reporting that might cast this investment in a completely different light. And I really think that if just this single factor were to change it might lend more credence to the constant chants we hear about listening to the message of the market. On one hand those guys pushing that message are correct - today the market for this stock is sort of restricted or limited; at present stock prices and daily volume are not so wonderful, but interestingly it (stock price) IS moving to an extent off the bottom (and I’d note that this may well be without all those other market participants that might otherwise wish to load up and go a long for a ride). Yet, on the other hand, if it were otherwise unrestricted (I.e., all brokers not restricting their clients), the message of the market might be more meaningful. Until then the fact remains that this is currently a very limited market, when some brokers have a “hands off you can’t touch this” view it will dissuade a lot of potential buyers. Will that change soon? I hope so. But hope is not much of a strategy Is it?
I just hope these guys aren’t “flying dark” like this (not reporting) in an effort to pull any shenanigans that would ultimately not serve the best interests of this company’s owners - its shareholders. But unless or until they get current we will never really know for sure what is going on and whether this company will make the comeback of the century.
