Thursday, November 14, 2019 3:38:06 AM
But, there is a decent amount owed to past creditors.
In fact a certain creditor obtained a letter of garnishment of $500k before the company went silent.
Seems rather obvious that there is dilution to pay off old creditors (this is part of cleaning up the shell).
In addition the company did a 2,000:1 split in 2017 and another 2,000:1 split in 2018. Once the debt is extinguished and the shell cleaned up, they will do another split.
If $3 million is owed and cleaned up at $0.01 that's 300 million shares to burn through.
Creditors will want to make a little, so I expect volatility to continue as we grease it out.
We are here for a similar purpose, but we should be honest with each other as to why the stock is moving (so old creditors can be paid). This is a common reason why OTC stocks move. Recognize the why and then find a way to get paid.
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