I don't own this stock. I only follow it because of the connection to On The Go. I don't even mess with these otc stocks because the cards just seem to be stacked against the shareholder. Everyone involved seems to be dreaming about the future with little concern for the realities. The promotional web sites and the equity financiers are not dreaming believe me. They need a market to sell those shares they have received and you are that market. One of the major debt holders of this company has an agreement to convert debt into shares at 75% of the best available bid. Here is that paragraph from the filing
"Between October 14, 2008 and October 24, 2008, an existing investor converted $1,710,000 principal and interest amount of a promissory note into an aggregate of 15,200,000 shares of our common stock, at a conversion rate of $0.1125 per share. Payments under the note are convertible into shares of our common stock at seventy five percent of the lowest closing best bid prices of our common stock for the fifteen trading days prior to the conversion date"
That means he can always get shares 25% cheaper than you are willing to pay. How can you win? Is this wrong or illegal, no. That debtholder has put up his money and will get paid. It is all there in black and white . They are also using shares to pay for all this promotion. It is on the disclaimers for these stock pumping web sites. They will not wait while the management pulls it all together and makes the dream a reality. They will sell those shares.
Do yourself a favor and unsubscribe from all of those email lists. Stocks on the nyse are so cheap now you can make money if you are willing to do the work. You can get in and out in seconds and that system will only kill you if you buy and blindfold yourself. Don't be afraid of a small loss. Don't dream of the big killing. Accept reasonable gains and sleep at night. Good luck to you and remember you can never learn too much,no time on dd is wasted. I hope this company is successful, but the odds are against it.
Boy am I a windbag or what?
