It's always fun when pct issues more shares to pay for stuff that isn't really needed.
Over the last roughly 3 weeks pct has gone over 1m in volume twice. On those two occasions they saw roughly 1.5m in volume. Those days were spread fairly fast apart as well. Every other day during the time period is very ho hum, daily volumes of roughly 200k to 400k.
Fast forward to yesterday when they announced Chesapeake was back. We saw roughly 2.5m in volume (slightly less, with a moderate increase in price), and then today we see nearly 4.5m in volume with a drop in price. What does that tell you?
To anyone paying attention it means that pct issued shares to Chesapeake, and Chesapeake likely took advantage of that uptick in sp and sold a ton of shares today to secure payment for their services. Oh what fun it is to be subjected to Gary's bullshit yet again.
Curious, for the folks playing along, what kind of time frame are you giving Chesapeake to deliver on your lofty expectations? What are you looking for them to do that is different from what we've seen over the last two years?
Yes Chesapeake is better than the rest, but even when they were representing pct way back when, there was no significant IR presence. They just managed an email list of shareholders who signed up and answered investor questions. Yes they did the latter better than anyone after, or before as it were now. But nothing indicates anything significant will occur now that they're back, except for further dilution from the looks of it.
So how long until you guys sour on the prospects your going Chesapeake brings to the table? A week? Two weeks? A month? I'm a firm believer we won't see any significant changes.
