It’s ridiculous to think that there is some sort of organized tag-team, doom and gloom campaign going on here in order to try and buy cheaper shares.
Does this type of thing occur in the OTC? In my opinion…Yes. On the flip side, I would also point out that the opposite side of the coin occurs as well. You know the eternal optimism and continual suggestion to buy so that someone else can dump shares? Yes that occurs too in my opinion.
Now getting back to this doom and gloom accusation specifically pertaining to EGOC. I’ll address it since it was in reference to my posts.
No…..this is not what is happening here. You want to know the obvious reason why?
It’s actually ridiculous if you look at the ticker tape along with L2. There is very little buying interest of this ticker and anyone interested in shares has had plenty of opportunity to load the boat. It’s even more ridiculous when you look at the chart and see that this ticker has been nothing more than a falling knife. Any “cheaper” shares that could have been bought along the way ($2.00 to $1.00 to .08) are essentially all loosing money. Anyone who bought is a bag holder. Personally, I wouldn’t go near this ticker considering the true bottom is .0001. Many may think that price point is impossible, but take a look at what happens to a stock price if a ticker is suspended or ends up on the gray market.
Many of us have been here since the custodianship and some may have owned this when it was a prior company as well. I know, as an educated investor, I buy shares with the intent of waiting and analyzing any data which is brought into the equation along the way. This is primarily official filings and announcements. As time passes, sentiments can become stronger which could translate into buying more shares or sentiments can wesken, which could translate into selling shares. It’s that simple. Now let’s take a look at this company since that’s what it is all about. I’ll just address a few red flags since the list is extensive.
The most obvious red flag here is the fact that the company failed to file its financials and failed to even file an extension. Some may point out that they have been late in the last, but over 60 days late is excessive compared to the delays of the past. The SEC regulations have tightened and this company is a candidate for being suspended on this failure to file alone. You really have to ask yourself why a newly merging company would put itself in this situation? No matter what your conclusion is…it’s a HUGE red flag to an investor.
Also….the company withdrew its application for a name change and also had an issue with a particular party surrendering previously issued shares. The explanation for withdrawing the application states they wanted to move forward in a timely manner. Remember 2023 was the year? All anyone has to do is look at the most recent financials and see that this is basically a shell. All this mention of infrastructure that was being implemented….where is it reflected in the financials?
Lastly…..I would suggest taking a look at the last known financials and evaluate the restricted shares. When is the conversion dates?
Personally, I wouldn’t be buying any shares here without a company update. Someone needs to sell shares, and as long as guppies are willing to drink the kool aid, those shares will change hands. The seller doesn’t care if they sell at .08 or .06 or .04 or below. Take a look at L2 and you’ll understand there is minimal interest. Placing bid support is also strategic to prevent the bottom from falling out.
