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Sunday, October 08, 2023 1:47:07 PM
1. I find it hard to believe, nearly impossible that Gries & Assc finished 2020-2021 as quickly as they did, but still haven't finished 2022, which should've been much easier?
2. If the SAGA deal is going to happen, I believe those behind SAGA are doing everything they can to accumulate ENZC before the div is paid out, which would increase their post-deal ownership of SAGA.
Other than that, I don't pretend to know any more than the next guy, but what I've been watching just doesn't make sense. The entire purpose of selling a stock is to make $$, so why does OTCN stop selling as the pps goes up? Then VIRT usually shows up to help push back down, at which point OTCN begins selling again. Why sell for less? They've been doing it for a while now, and it just doesn't add up.
In addition, why are we trading at a whopping $121M MC, with a $450M deal on the table that should put us around .14-.15? Then everyone is expecting SAGA to hold at least a $10pps after 45M new shares are added, but how? The subs they're buying can't even get ENZC to $125M, but all of a sudden once under SAGA they'll immediately at $450M? Doesnt add up. Then if the make whole provision kicks in and they have to add more shares, that's just going to drive SAGA's pps even lower.
Anyway, there's just a lot that doesn't make sense to me, so I'm waiting to see what happens and hoping/praying for the best!
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