EXLA is subject to a custodianship hearing on November 8th according to its message board.
Someone is going to try to take over the shell.
I speculated that the management of EXLA and ALTO had gotten some proxy to try to get custodianship of the company.
Since the share price started going up in late August, almost exactly 200 million shares have been sold and that's about the number of authorized shares EXLA had not sold back when they still were trying to look like they were operating a company.
Some penny stock speculators might have been buying then selling but by and large, it was probably EXLA selling and the penny stock speculators buying and holding.
Former owners who bought when this stock cost real money are still holding. If you had fewer than about 1000 shares, you wouldn't make back your sales commission on a discount online broker. If you had 10,000 shares, you'd make less than $100 on a position that cost you thousands. Those people are probably hopefully holding.
They think this thing is going to explode after the hearing. If they did get some wino to get the custodianship hearing, then he doesn't even have to show up. Then they don't have to contrive another fake company which never seems to make money. If they could make a real company that made money, they'd have done so.
