Good morning,
Things are starting to look really interesting for this company.
The X announcement on holding back on the convert for 4 months is promising on 2 fronts and appears this is the start of a approach by the company that selling or converts. at .0001 or on the 6th and 7th digit is not in the best interest of the holder or the interest of preferred mainly the preferred C.
The second reason may be that the company is starting a new campaign on releasing some promising events in the upcoming month going into the summer with some of their entities that are clearly summer events into fall.
Volume has really been lackluster to say the least and one reason why I believe the company is holding off on any new sells for a few months. They want to raise the share price to a more equitable for favorable resumption on renewed selling around or going into fall. This is on the surface a promising development for ROI.
Back to the preferred C. The attempt to draw on this is interesting on a couple of reason. Usually when a company has a such out balance of a preferred like the C is insurance to prevent 'Green-Mailing'. See the conversion is 1: 100,000,000 common and the amount on the C is only 1,000,000. This is simply an insurance protection instrument where the company can offset any backdoor maneuvering by outside entities in acquiring control of a company. This happens when a company trades at .0001 give or take with assets that deem to be attractive, but with trades at .0001 appears on the surface (.0001) as unvalued, but in total could present a problem with management. See the company only has 22B A/S, but upon conversion of the C is total 1T. Of course, the company could never unload the full amount since only 22B are authorized. So the company only unloads portion and in this case is moving 10,000 C for 10B common and max out the A/S. Of course, the X announcement mentions a hold. This is my sidebar opinion.
Also mentioned rightfully by a poster with mentioning the 9.99% guideline and where I opine that the company needs to increase the volume, and this only can happen when we get a catalyst thus momentum.
We are going higher, but where is still iffy. There have been on average a 1B monthly dilutive factor rolled in so the gauge is difficult to call at this time, but I am reasonably sure that we will hit a target of .0005.
The buyback is one of the catalyst drivers will greatly enhance the momentum. Remember, every share that moves in retail is a buy. There is no inventory held by MM or other entities, but solely the dilutive shares have been picked up by retail traders and that makes for a major spike in volume once we get our catalyst.
The churning to .0005 will be awesome and why I place in the near term, mid-summer, a target of .0005. We will look at the far out target above .001 which must be dependent on the buyback and other important announcements going into fall.
One other point about shorty. Naked shorts in this company is a burden and is always a prevailing current on the destruction of the share price. Only really one solution, is a MOASS. This has to come from the company.
Now we wait.
Have a good day.
varok
Bullish
AI
