Cajun, one of the cardinal rules of trading is to cut your losses short. Those who do not do this will, most often, be left holding the bag, especially with penny stocks that tend to spike on any kind of news.
Hope is all you have left, after that. I have been in your shoes. When I first stated trading, I lost 33K in the first year. I thought I was smarter than the market. Then I spent some money and got educated. I still have losses, but the winners outweigh the losers because I am not afraid to take a small loss to preserve capital.
The UCE deal has not gone forward in almost a year. LGMB spent 29G so far. They have no income, so how could they ever move forward with the other 471K ? They need an infusion of money. Could be that they will add some shares of find an investor, They have no business that generates capital, so the only source of money would be more shares or an investor. Pete is a pretty good salesman, but I am not holding my breath.
If they get some money, they have a huge debt to pay off, so where will the money go. I think the company owes Pete a few bucks too. At .002, I think Pete is going to want his cut first.
If Stidham transfered your email to LGMB, it suggests to me that he didn't feel right telling you the way it really is. He left it to LGMB to explain and of course they just left a dangling carrot for you to follow. He also didn't want to burn a potential money bridge, so he passed the baton to LGMB. Stidham needs money too ( Mom and Pop MMA )
The UCE deal is not dead, only because Stidham didn't say it was dead and LGMB continues to include the original agreement in their reports. Stidham would be a fool to say it is dead. That would insure that money could never come from LGMB, money that he really really needs.
The ball is in Pete's court, waiting for him to come through with something. Sending the UCE messages is a waste of time.
Just pretend, for a minute, that Pete is your cousin looking for investment dollars in his company called LGMB. Would you invest, knowing what you know now??????????
AI
