sadly the company itself valued its shares at $0.13 with a 9 million shares option grant to this new guy. even ceo got his options at market price like 0.26 at the time and only couple of million shares and not 9 million shares.
so the shares are overvalued almost two fold now and not worth more than $0.13. i am not telling you this, the company is.
this options grant also tells you how insiders like previous management are into filling their own pockets , the new guy already made a million on paper without doing anything . nothing has changed except the company name.
yes, good riddance, this is a penny stock always will be a penny stock in an OTC with the new guy as president who likely fought tooth and nail to fill his own coffer with 9 million shares and instantly made 1 million dollar.
but he did something right : told us the fair value is $0.13 per share. so I asked myself why is it at $0.29 , are people stupid ? not really but retail investors are misled on almost everything Including yahoo finance where it shows only 233 million shares , 50% of what are outstanding and market cap is in fact twice than shown. the management is not misled , they are giving themselves options at $0.13
that kind of explains why companies own valuation numbers are at $0.13 per share and market is at twice of it. the pps should ideally come down to $0.13/share as soon as shares outstanding are reported correctly.
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