This company has promised several dividends it never delivered. Each time it was met with the same degree of enthusiasm we see here today and each time the people that bought on the hopes of getting money for nothing (and their chicks for free) walked away with nothing (but a date with themselves)
Let's examine what they really said this time:
The company has just told you that at some time in the future, it might give you a dividend of restricted stock in some unnamed pink sheet entity that might be worth (at the moment) 60 times the current price of this stock. They said they do not even have the position to distribute as a dividend as of yet, because they don't currently have the stock in the other company although they hope to get it eventually. They claim that this dividend distribution, if it ever occurs, is worth 400 million dollars in current market value.
So what do you really know from this?
1. They have not paid promised dividends in the past.
2. They have promised nothing this time.
3. The unpromised dividend is in restricted stock in a pink sheet company that is valued so high that by the time it might ever become unrestricted it could be as worthless as this company's stock is.
4. The pink sheet entity may well be a shell that was just reverse split and could be totally illiquid.
When you disect this latest dividend ploy, it no longer sounds like such a big deal, huh? Welcome to pinkyland pump and dump...brought to you by the pros from South Africa who have little to lose and everything to gain by BSing people one more time. This company doesn't even have a real office address. It uses a Mail Drop with Access USA as it's corporate HQ address
whats up with this extraordinary dividend i keep reading about?? is this really supposed to give us ove 1 cent a share? a little confused as that release should send this soaring days ago...
We are apt to shut our eyes against a painful truth... For my part, I am willing to know the whole truth; to know the worst; and to provide for it. --Patrick Henry, Patriot and Hero of the American Revolution