Plandai Biotechnology Inc (PLPL)

[Kool Aid Man]

IMO Tad "hoped" it was going to be approved and Rick was led to believe it "had" been finalized apart from something like a minor clerical detail. Why do I think this?

Tad and Rick authored and published OTC "News" and "disclosure" announcements --both posted on 5/17/23 and both clearly implying the merger and change of control had happened. The next day Rick announced plans to move out of the cannabis sector into other areas. A day later, he announced the 1 year deal with MERCK animal health. Each time the stock barely moved:

5/17/23-- +40.00% (vol 287 mil)
5/18/23-- +14.29% (vol 98 mil)
5/19/23-- +12.50% (vol 215 mil)
https://www.barchart.com/stocks/quotes/PLPL/price-history/historical

While impressive that was hardly the run everyone (including yours truly) would have expected with such a trifecta of news!

So why didn't the stock skyrocket?

IMO the billions of shares Tad apparently issued to old convertible note holders were unloaded on anyone willing to buy. This included those issued AFTER Tad's last disclosure--

7,749,662,225 as of March 31,2023
8,199,034,371 shortly thereafter--- an increase of 450 million (449,372,146)

IMO those old convertible note holders knew (a) the long, scammy history of this ticker and (b) knew a devastating reverse split was likely. Consequently they took every chance to sell when retail buyers showed up to "get in early."

Unfortunately, if I'm right, billions more shares held by these profiteers are still waiting to clobber retail investors.