Nexus Energy Services Inc (IBGR)

[Ryoko]

Look at the history: The RegA was originally offered at 50c. The price crashed. Then they revised it to 10c. The price crashed. In each case they were trying to offer shares at or above market under the assumption that investors would be banging at their door to get in. Just look at the price now. It's struggling to stay above 4c, plus there's weak volume and not a lot of takers at these "cheapy" price levels. So the idea that they would be able to sell 10s of millions of shares with the anemic demand and a price that's been steadily declining for the last 10 months is just not going to happen unless they are heavily discounted which would destroy the share price unless the shares were restricted. Truth be told, if you wanted a few million shares, all you would need to do is throw up a bid at 3.5c and you'd get filled in a day or two. No need to mess with a RegA. Also, there's a lot of shares wanting out but can't exit due to the weak demand. Plus you need to factor in that the company has gone dark, the 10K wasn't exactly exciting, there's still regulatory issues with FINRA, and they can't seem to do an audit. If they want to do a RegA, they need to fix the ongoing issues first.