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Wednesday, September 19, 2007 2:21:19 PM
I have communicated with the company a few times and they keep telling me there not selling here.
Most longs know that when the stock was in the .001 area for several months earlier this year it couldnt seem to go any higher. There was alot of speculation that certain MMs were shorting and that hedge funds may have taken a large short position.
My experience with pinkies is that MMs try desperately to get the stocks down to .0001 and that is where they cover. If the bid is .0001/ and ask is .0002 they will do whatever they can to get the ask to .0001 because they know that will scare away a ton of shareholders as they think there will soon be no bid and they should get out while they can recover a portion of there money. They feed off of emotions and fear.
I really think the MMs reached there ultimate target and also covered most of all there shorts and are now going to try to run it towards .001 and will take large positions at .0001 in the near future to make sure they benefit nicely.
Remember MMs are not policed on the pinkies and pretty much can do whatever they want and hedgefunds also play a huge role in this complete corruption scam of shorting pinkies.
Its all speculation on my part but I have dealt with tons of pennies and this is the cycle every year.
Alot of pennies never recover at these levels but EFGO has the assets and cash to make a huge run from here and China is the major key.
I really think in the next 2 weeks we will make a very big move. This is capitulation and that is usually on massive volume.
Good luck to all and Im betting alot that this happens so lets hope we can make a massive run.
EFGO management has stated that they think that if all there assets were broken up and sold off they would be worth .01 - .02. I totally believe that also and think a R/M and or a buyout will happen with a big reduce in share structure from the revenues they have coming in from there businesses in place.
I also got a subtle hint that the company could step in and buy a ton of shares at .0001. Hope it pans out and is announced that would bring alot of confidence back.
The subtle hint was they had a friendly MM at .0001.
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