"CFM and Accum/Dist. tells it all."
I rather doubt it, particularly on a penny stock which tends to be even more immune from the (alleged) predictive powers of TA than a regular stock.
I'd have thought given you and your day-trading colleagues previous track record of 100% failure in predicting not only the magnitude but even the direction of the pps of Biophan, you might want to be a little less categorical in your forward-looking statements.
Other reasons you might want to be a little cautious include three very salient facts from the last 10Q.
The first is a little like the Sherlock Holmes mystery of the dog that didn't bark in the night. For the first time since the acquisition of the Myotech CSS project, the 10Q didn't put forward a time scale for the commercialization of this device.
Now given that every time in the past the date they've given has been wrong (in that it's been too optimistic)you might understand this, but at least it was a yardstick against which they could be measured (and found wanting).
The absence of such an indication would worry me considerably if I were a Biophan shareholder.
Secondly, the 10Q gives no suggestion whatsoever that they will cancel the planned MegaDilution to 800 million shares. In fact it explicitly states that they intend to continuie soliciting a sufficiently large majority to allow that to happen. A number of our new day-trading friends have said that they believe this dilution would be cancelled. Are they concerned that it is still Biophan's stated intention to dilute by 357%?
Thirdly, I was intrigued by the full scale of the dilution that has occurred over recent months. Judging from the weighted average figure at the end of August, I suspect there are probably 200 million shares out there already.
Finally, it was no surprise to have confirmation of what I beleived ever since I started studying Biophan's filings a few years ago:
"As a result of the material weaknesses described above, our management concluded that as of February 29, 2008, we did not maintain effective internal control over financial reporting"
In other words, all of Biophan's previous filings were wrong. While this does not come as a shock to me, again if I were a shareholder I'd be upset to have been so egregiously misled.
And if I were a litigious shareholder, I'd be looking to punish those people who were responsible for misleading me, both within and outside of the company, including their paid agents and "consultants" on message boards such as these.
AI
