If this one gets any vol/news, whatever, this could easily run to $1.00 or more imo.
I have a call in again to cred. committee legal counsel to get an update, but have not heard back as yet.
One must remember that the BK court and the cred commit are bound by ethics (and the law in some respects) and may only accept qualified, financially sound merger candidates. So when they do find one, it will be a viable operation that will have had its finances and personnel authenticated.
With such a low float (about 500k) a r/m announcement would send this up violently. If one looks at the chart when volume hit this just a while ago, you can see that it moved intra-day to .09 on a simple substantial increase in volume from the previous session.
It is obvious that profit taking, (the previous day traded a huge amount as mentioned) and some obvious day trading exercises capped the gain that day. Had buy order flow continued just a while longer that day, this would have easily traded to .20 or above during that session. Refer to chart.
It would seem that the merging co. would probably wish to forward split this issue to create some increased liquidity. That would be very attractive to existing shareholders as well.
National City Bank is not going to call me back, I spoke with my counsel about this, he told me that they would never disclose to whom those shares were transfered/sold. That explains why the National City attorneys have not contacted me with the requested information.
Interestingly, the cred comm legal counsel also would not disclose to me who received the subject shares in SEC filing (5% of GWOW o/s) from National City Bank.
To me, that is the best indicator here that something is going on in the background, National City Bank owned those shares for years and years, then suddenly disposed of them and filed a disclosure statement to the SEC in early 2007. (see SEC filings for verification). They sold/transfered the shares long after the majority of the bankruptcy proceeding was finished, Why ?, when the cred comm legal counsel told me that 99% of the BK case was finished 2-3 years ago.
I can tell you this, I am going to hold mine until we hear something, any merger would send this over a dollar at minimum with the miniscule float and the low o/s of 3.7 million.
Depending on who the merger partner is, possibly much higher.
Its worth the risk.
AI
