When I first found ETLY I checked into it, figured they had a good story, so I thought it was worth a gamble so I bought 14,000 on the cheap side. Also it fit into the sector of the market that I have virtually all my money in. That is anything to do with energy.
As soon as ETLY had the big run up I checked deeper into it. Luckily I hadn't before if I had I would not have bought it. When they had the big run up and I check and found out about the heavy dilution and huge R/S which the Directors wanted to do. I tracked it right from the beginning of trading the day after the annoucement of the grant as soon as I saw it was time to sell I did.
A number of years ago I invested in a pink sheet company with a good story bought 1000 shares for $1.50 a share. One fine day without any warning they did a 1 for 100 R/S citing in their P/R the same reasons ETLY is saying why they want to do their R/S.
The stock traded immediately on an adjusted basis at $30 a share, the mm's deserted the stock then it collapse very fast to a penny stock, wiping out the shareholders. The Directors stole the company. You may fool me once but damn it if I will let you fool me twice if I can help it, luckily I feel I was spared from it happening again.
I sincerely hope that ETLY works out for you guys, but right now I feel it is too risky for me.
AI
