Okay, Ive done alot of chart/volume analysis. I also factored in filing dates and history. I think we have not absorbed all the REG D 504 shares yet.
The company increased the A/S on Febuary 23, 2007 to 500 million shares. The stock started to drop on January 31, 2007 wich could have been the insiders selling out. On Febuary 5, 2007 the companies REGDEX filing appeared on the SEC website. It is obvious by the volume that once the dillution started to occur the price depreciated rapidly.
On Febuary 23, 2007 an amendment was filed for the REGDEX. More than likely this was an increase in the amount of shares to be issued since the price had droped too much in order to cover the $1M dollar financing deal.
On April 5, 2007 the company once again increased the A/S this time to 1 Billion shares. Most likely this one done to accomdate a need to increase the amount of REG D shares since the price had continued to drop.
On April 9th the company issued a PR stating it had completed the private placement of the 504 offering. On April 11, 2007 another amendment was filed. This was probably the closing of the REG D. I have requested the REGDEX and will post what I find out when I have that information.
IMHO, I think we are still absorbing the remaining 504 shares into market. I also however believe that the strong support for the stock has been the insiders loading the bottom. I suspect they will publish news once they have completed the remaining REG D shares. That will allow the market to recover from the dillution and for the price correction to take place.
Hang in thier folks, do your DD of the company and know what you own. It won't be long now IMHO.
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