Actually, I have posted here before. I've been here before the NT-10Q was put out. If you hadn't noticed, I was actually pumping this stock up on the speculation that a merger was pending. Heck, everyone here was as this was looking pretty sweet a month ago. The fact that I'm no longer pumping this junk is a response to the fact that the CEO is being nontransparent, and this stock is SEC delinquent about to be slapped with a big "STOP SIGN". So am I the crazy for changing my mind and grasping reality, or are the longs who are bleeding out everyday? LOL
This "paranoia" that people are trying to steal your shares is crazy. The price is dropping like a knife because of the opposite, no one wants to catch a falling knife! No news, and uncertainty about whether a merger is really going on. And rest assured, a company with no news and late on filings is a death sentence in the OTC. I mean, for anyone to accept the fact that their account is bleeding and they are holding on in "Hopes" of a potential merger is insanity. HOPE IS NOT A STRATEGY. I'd much rather chase and miss out 100% in the initial run, than watch my account slowly get wiped out. The payback period of selling-to-chasing, is approximately 3-4 days. If you had sold at 0.04, I gurantee you that any price you'd be "chasing" from these levels, you'd still buy in at a price lower than what you sold. To each their own though, what do I know.
And if you're wondering why I'm sticking around to bash this stock, I'll be very clear and transparent, unlike some of my colleagues.
If I bash this stock, and it proves to be a scam, oh well... no harm done and I told you so.
If I bash this stock, and it proves to be legit, thats awesome, I can still chase it from a much lower price and likely buy at a price lower than what I sold it for. I'd gladly flip-flop and pump this to the moon.
As it stands, longs are grasping for straws and delusional. every penny stock is a scam until proven otherwise. Just look at the 99% of failed penny stocks and day traders to know that being "long" on a penny stock, is not the best strategy, especially on one like this.
So you tell me, whats the game theory of holding a stock that bleeds out like this? Why take the risk of holding a stock that you have no certainity of whats going on behind the scene, and run the risk of the SEC halting this?