SLNN - A little DD
Been trying to dig up what I can on SLNN. There hasn’t been any activity within the company post 99’ that I can find. It’s existed on the fringe as a shell for 11 years. I spoke with a Linda at Corporate Stock Transfer Inc. today @ (303) 282-4800 to get share structure info. This is what she gave me.
A/S 20,000,000
O/S 11,440,000
Restricted Share Count: Unknown and therefore…
Float: Unknown.
Yesterday 778,145 shares traded which comes out to roughly 6.8% of the O/S. This is a 9 year high on volume. The PPS went from .003 at the open to a high of .029 and closed @ .013. We had a 10 bagger at its peak on very little volume relative to the O/S. With 4 MM’s on the ask and 5 on the bid and a spread which averaged over .01, the stack on the ask went .029 (1) .10 (1) then 2.00 (2). I’m going to go out on a limb here and suggest the float is even lower than I had originally thought. I mean seriously, how many times do you normally have to turn over the float to get to a 10 bagger? DOMS who was sitting @ 2.00 eventually dropped off altogether.
I’m normally in and out of trades and I don’t usually get this involved beyond a chart. However, the sudden activity after over a decade of relative dormancy is screaming potential trade of the year to me. And the point being… it shows a tremendous upside for anyone who wants in, IMO. Aragorn posted “An R/M would send it into DOLLAR-land” and I wholeheartedly agree. And after what we’ve seen today, IMO just a dollar would be low balling it. Wishful thinking? Sure. But aren’t they all in the beginning? I think the huge spread + PPS movement clearly indicates the MM’s don’t have shares, and if todays movement intimates even a whiff of some sort of deal... Lookout, cause I’m still sniffin around for my first 100 bagger! Who wants one?
DD
