Goat, I think you're on the yellow brick road my friend. Right on with the calculations although I think we're way lower than that because of stuff we can't verify yet. I mean we've had a pps decline of 65 percent in the last 5 days or so with volume of about 210 million (just a rough guestimate looking at my stockcharts). If this was a NASD or AMEX exchange that was more highly followed, we'd have likely seen two or more times the float change hands with a similar decline in pps. Now take out the flippers and I'd say the float is about 400 million, maybe less.
Big question is...where are the other shares? Maybe issued but restricted to the parties PBLS acquired? If so, must be one helluva acquisition to warrant that many shares. Can't really say I blame management for not wanting to personally field calls from disgruntled investors, I prefer them to git their butts to work and put some uptick on that 7 million ebitda they turned in 2006.
The .034 wall was uncanny. Someone big got wind of the release and shorted the .034, you could have bid a million shares at the ask then turn around and there were more to sell. Maybe the janitor was a plant and they saw the report on a desk prior to the release or something, stranger things have happened. I'd say there's a bully on the block that thought there were a billion plus shares to cover with but they are about to rapidly find their pants down around their ankles when they try to cover.
I've traded other exchanges for years, this is only my second pinkie to buy, so I may be wrong. There'll be some that laugh, but to them I say trade what you see, invest in what you feel.
