In response to everyone saying, "the shorts are in control of the PPS"..... and "there is over a billion shares O/S"
I have a theory: During the May/June buying explosion the market makers(MM) actually sold more shares than they actually owned, or even existed for that matter, over a billion for example.
So in response, on black-friday(sorry to the newbies who don't know what I am reffering too) the market makers purposefully tried to crush the PPS by 50%+++(in some instances)to buy the shares they already sold for well over .15 cents, and pocketed the difference.
For example: The market makers were selling shares of SPNG at .25 cents/share but had no shares to sell because of all the buying that was leading up to this point. So market makers sold imaginary shares, and than knowing crashed the PPS to extreme lower levels, bought shares at .10 cents gave the shares to the buyers at .25 cents and pocketed the difference. They know what they did is illegal and now they are keeping the price low to accumulate as many cheap shares as possible, so they won't have to break the law again... getting away with it once is easier because there is not a patteren of this, but on the OTCBB anything seems to go with these market makers.
So in conclusion: I have already reported SPNG's market makers to the SEC. Maybe I am wrong, and maybe I am right. I would not be suprised to see the same explosiveness in the PPS that we saw back in the May/June run-up once the market-makers have accumulated enough shares not to repeat there crime again.
Any thoughts anyone?
