Actually, the folks that bought at .0002 bailed out at .0004 when the volume exploded. The current situation within this session is the churning effect and has many in a holding pattern for more direction from the company. This is generally normal trading pattern going into a New Symbol and Name change.
Notice Tuesday we had huge volume/buys in the .0004 and .0005 range. This appears we are on the bottom or support in this range.
FINRA has a backlog and there are a few issues mentioned on material events on a previous holding. I believe the issue has been resolved. If a concern on FINRA applicant during filing process, there will be a rejection submitted almost immediately via the filing to Web CRD. The process of time is in the direction of no issues is 4 weeks. If there a no complications or reporting issues after the application, there is 10-day grace period and notification is then sent out.
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