Buyers beware! Since early July I had built up a position of 330 mio. shares in this company. My initial motivation was mainly gambling/playing lotto which turned later into serious investing. I strongly believed Mr Santini was the man for a fresh start to this messy company. As soon as the PRs with the buyback results came in, I got more and more confident to have found the "exceptional" penny stock. The announcement of the dividends sounded even better and encouraged me to stay with the stock even after I had a substantial paper profit on them and made me very tempted to cash out. But my plan was to stick around until the stock reaches 0.0015 or dividends are paid ...
Then two things happened last week: First the company PR'ed the latest public float figures, which caused me to realize that I had more than 10% of the stated public float and potentially a serious market liquidity problem to sell all my shares at the time when I wanted. And secondly, Mr Lump appeared on the scene with his well-orchestrated Q&A seesion on IHub. That was my ultimate turnoff. In my sincere belief and personal experience, serious business people simply do not act like that. They deliver results, build up real businesses with real people, real addresses, real profits, real PRs and last but not least can control their tempers. That is just the way I look at it.
That is why I unloaded my whole position over the last four trading days. The whole situation has become way too hairy for my taste. I made a very nice profit with that stock and might come in again just as a lotto play. However I highly doubt this company will make it ever. Maybe there are going to be some dividends and very likely a higher share price short term. As soon as the company stops buying you will have a problem. Management can pump up that stock much more, certainly. But one day shareholders want to see operational results and hard cash earned from working people. I have not seen it yet.
I have a very strong desire to express my sincere thanks to all participants on this board; believers or bashers. They all motivated me day after day to go through endless lists of messages and challenged my investment decisions again and again. Very special thanks I would like to deliver to Vianna and her team. You guys do an exceptional job and without your hard work this board would be worthless. I truly hope to see all of you again somewhere in Pennyland. Let us go out there and chase these profits. I am ready, willing and able ...
Semper fidelis!
