Realtalk, remember when you sold at $.02 the float was much less than it is now. The problem is that 1000's more will be trying to do the same. If you sell on any rise that I am sure will not happen, you will have to be one of the first of 1000's to sell before the market makers kill the price. And beware! If the price rises on the asked, the market makers will just get more debt shares for much less than the bid and sell them to new suckers with out actually buying them back on the bid.
This assures no one at this point can sell on the bid. Even if the asked went to $.03 with a bid of $.02, why would the MM's buy them from existing retailers when they can just call the debt investors and buy them for $.005 and make more on the sale spread?
At that point the bid on any rise in the asked is also smoke and mirrors. If the brokers started selling 10,000,000 on a new rise in price and the bid did not move, you would have your proof the shares sold came from the debt shares. That is why they put the bid at a high volume. If the bid were to also be 10,000,000 and someone sold even 100,000 shares the bid would not drop to 9,900,000 but would instead drop to 50,000 and one more sale and the bid will drop below profitability.
Remember one key factor. This money belongs to SGMD, the debt investors, the market makers and the brokers (commissions) and YOU cannot have any of it.
You think the brokers who know this would not let the transaction take place seeing that the shares sold exceed the float or even the price is not accurate. The reason is. They are also in on it. If they look after the buyers, the brokers would lose millions each week in commissions.
Everyone makes money except the retailers. Sure some may make a few bucks but I have never once met one investor who bought these stinky pinkies who can show they made much more then a month’s rent or grocery money. When they say they made a killing on the stock, they are lying.
