U R NUTZ!!!!!!!!!
Posted by: momentumtrader
In reply to: Bigfootbud who wrote msg# 37066 Date:5/1/2007 5:41:13 PM
Post #of 37077
The company has announced 815 million shares outstanding.
They announced about 40% are restricted.
That leaves approximately 489 million in float.
With 1.1 billion naked shorted that would bring up the shares held in street name to be 1,589,000,000. If 25% of these get converted into preffered that would retire 397,250,000 shares out of the float. That would leave 92 million shares in the float. I personally believe the short is greater then 1.1 billion. I estimate 80% of the activity in this stock is short selling. Their have been approximately 3.5 billion share traded in this stock since January 2006. 80% of this in my estimation is 2.8 billion shares potentially naked shorted.
I feel my 1.1 billion shares naked shorted estimate are very conservative. If 25% is converted I could see the float going negative. I will post time and sales everday and let you make your best guess. I do not see many sellers at all in this stock because everyone who has invested in this know how extremely undervalued this company is. The book value from my understanding is 115 million I have heard. The market cap at .014 is only 11,410,000 dollars. Also who would sell as oppose to taking the preffered deal?
Here is the volume since Januaruy 2006
PBLS open high low close change volume
05/01/07 0.0135 0.0160 0.0130 0.0140 +0.0005 14,320,400
04/30/07 0.0170 0.0175 0.0110 0.0135 -0.0035 174,355,643
03/30/07 0.0200 0.0210 0.0150 0.0170 -0.0040 143,486,900
02/28/07 0.0125 0.0235 0.0125 0.0210 +0.0070 244,078,676
01/31/07 0.0120 0.0205 0.0095 0.0140 +0.0020 297,073,794
12/29/06 0.0060 0.0120 0.0055 0.0120 +0.0060 261,154,568
11/30/06 0.0080 0.0080 0.0055 0.0060 -0.0020 186,966,265
10/31/06 0.0120 0.0120 0.0040 0.0080 -0.0030 420,067,517
09/29/06 0.0130 0.0145 0.0089 0.0110 -0.0020 304,273,745
08/31/06 0.0238 0.0238 0.0115 0.0130 -0.0090 334,739,790
07/31/06 0.0298 0.0325 0.0210 0.0220 -0.0080 142,794,270
06/30/06 0.0300 0.0400 0.0290 0.0300 +0.0000 158,424,060
05/31/06 0.0320 0.0390 0.0266 0.0300 -0.0020 171,630,061
04/28/06 0.0260 0.0359 0.0200 0.0320 +0.0070 164,168,068
03/31/06 0.0270 0.0280 0.0028 0.0250 +0.0000 138,309,495
02/28/06 0.0300 0.0410 0.0200 0.0250 -0.0048 149,433,236
01/31/06 0.0230 0.0560 0.0200 0.0298 +0.0098 244,794,615
