Monday, October 28, 2019 3:24:27 PM
It's called a Death Spiral.
The stock plummeting to $0.0001 (or less), followed by a R/S, then the fall back to $0.0001. And then another R/S...
Several dubious penny stock companies actively help their lenders selling their newly minted dilutive shares by making great announcements that never pan out.
VTNL(D) 's record is terrible. Remember, they claimed to have $27 million dollars worth of "Orders" or "Supply Contracts".
In the same timeframe they claimed that they would proceed to a shares buy-back. (Which would have been illegal).
Last year, VTNL explained away the very poor Q2 results (the CEO had alluded to $1.5M of sales) by blaiming the California wildfires…
The mind boggles if they will attempt to re-use the very same excuse this time.
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