[The stock is trading like there is no lawsuit]
Maybe because there is also risk in the lawsuit since it cuts both ways, and also because lawsuits can cost more money than they might net in cases like these.
[The current market cap is 690K]
That is an arbitrary number. If the company is losing a lot of money, what are the prospects of making a profit in the future? Forget the lawsuit for a second and concentrate on the business end. If the business end has little hope to turn a profit then that is a big deal when it comes to a Market Cap. The next question is what are the assets? Are there any here? If not, and there are no legit prospects of turning a profit here then $690K could be way too high for a Market Cap. The final comment regarding Market Cap is you don't know for sure what the actual Share Count is right now. The TA is gagged!! That is major league troublesome!!! I would put it at 50/50 or more that the share count has moved up substantially with the TA being gagged, and brokers seemingly having an endless supply of shares to sell right now. Not a good combination IMO.
[This stock should go up if Ricky took his hockey league and stuck it where the sun don't shine and speculation developed about a new business being put in the shell. Many shell specs bring market caps of 1 to 2 million. It has happened over and over again.]
That kind of thinking is what cuses market bubbles, and depressions in overall markets and economies. Shell speculations have no real worth other than what is legitimate assets and business prospects. 99% of these pinksheet stocks should be shut down for just this reason. Paid Pumpers start touting stocks on Boards like this to the unsuspecting and use TA and other nonsense charts. The reality is companies that have no legitimate business prospects other than to bleed cash which also have zippo in assets have no real net worth IMO. With the housing bubble ready to burst wide open and the credit market gettign ugle the speculative plays might be the most dangerous investment vehicles anywhere. In times of frivolous spending speculative plays get way overpriced, but in times where money is tight due to credit crunches and economic downturns they can have what they are really worth and that is zero.
[Once you factor in the potential from the lawsuit, I don't think anything much would prevent the stock from going into the .02 range as long as Smith shut down his money losing hockey nonsense. If the lawsuit had favorable developments, there could be a lot of upside from .02.]
Shut down the business and put all the eggs into a lawsuit?? lol. As said before, maybe this company loses the lawsuit against them, or in most likely case prevails in having both cases dropped simultaneously. Then what? Oh yeah, it would not be $.02, but would be $.0000 cents. It is very likely that a prolonged court battle could cost more money in legal fees than what the company could ever realistically hope to win in any court judgement even if the court ruled in its favor. I don't think the monetary damages would be all that high IMO. This company will rise or fall on its actual business prospects which is the way all companies should be valued.
[The hockey is the obvious drag here.]
That is why they are in business. lol. If that is thrown out, this company is truly worthless.
[Smith is too dumb to run a public company. It is time for a change. We should call for Smith to resign or to be removed. It can't get any worse unless the fool can lose more money operating another ill-conceived plan with his Hockey pipe dream.]
This guy is probably no different than 99% of the other CEO's of pinksheet stocks. Most all of them should be shut down as their legit hopes of ever turning a real profit and building a real business are extremely slim. You must also think about one other thing. If this CEO is this stupid, then how can you be so sure of the lawsuit that he also spearheaded against others? Maybe the others who are suing him are correct and he is as bad as you suggest? Then what??
overacheiver, it is now easier to see Larry Skolnik for what he is in the rearview mirror. What I learned through that debacle is that EQBM and Skolnik are not rare, but rather the common theme aamongst these pinksheet stocks. Change the names and the stories and symptoms are the same IMO. The investors and posters are also part of the problem in the end. We want to beleive so badly after investing our hard earned money into these seemingly great stories that we do throw our discernment out the door. If you take a deep breath and think about why you are here you have to question your own line of thinking. Who in their right mind would stay invested in a stock where they want the CEO thrown out, and also want to have the only legit business prospects halted? Surely there are hundreds if not thousands of other stocks out there that have more legit CEO's, and more legit business prospects? Hanging your hat on a frivolous lawsuit does not seem all that wise to me. JMHO.
AI
