Yesterday's massive down day was on ninety cents worth of selling pressure, to put things in perspective. Yes, less than one dollar worth of shares. I have been warning people for the past couple of months that heading to the EM was a real possibility and anyone who has been following shouldn't be caught off guard. The company clearly went dark/quiet and heading to the EM doesn't change anything in the big picture. The float is still locked and no one dumped yesterday or today. This was a shell and a waiting game before the EM, and it's still the same. It's a high risk/ high reward gamble that these guys are still going to one day go through with the merger. It may seem like a long shot but I still believe it's much more likely than the market has priced in, and the fact that it's such a perceived long shot is what gives this play so much bang for the buck. If these guys get back to current, watch how hard the market will snap back.
Frank put $20k of his own money into this and still owns all 150 million of his shares. The buyer of the shell still has control via his preferred shares. NEITHER of the two have made anything to date. As gloomy as it may look on the surface, I'm quite confident these guys have plans to actually make money off of this shell and merger. I know the pps is down a ton, but in reality there's a massive difference between trading at .0003 with no shares to be bought vs trading at .0003 with 100s of millions of shares to buy. There are no shares actually to be bought at the current price, it's purely noise and doesn't indicate an actual market for shares in the these price ranges.
What do I know? Well I did buy the 2020 base and did sell into the 2021 speculation bubble, and no I did not tell anyone to buy when I was selling. Over the past year I've averaged into round two here and given enough time I think this will break the 2021 peak, despite how despondent things may look right now. Getting off the EM is a mere formality when they're ready to rock. Nothing has changed in the grand scheme here, the EM just extends the company's dark period longer. They may actually just be waiting for the two year phase to play out so when it's time to announce the merger, they can raise capital into the sentiment reversal.
