Friday, June 04, 2010 1:22:32 PM
If the offer was legit but declined after their DD OR if it is fake than it is back to 0.0001. That does not mean that it will stay there forever though. This is a good one to play especially if you got in at 0.0001.
This is hard because the stock is not moving, but the ideal stategy is to buy at 0.0001 and sell half of your shares at 0.0002 so that you break even. The remaining shares you gamble on the buyout. Even if it does not go through, the shares were free, and that does not mean those shares won't still be worth something further down the road. Management seems to think they are worth something, and buyers are looking at them so there could be value.
I was involved with one that did not go through earlier (EWRC), and we know the THRR didn't work. I am watching this one purely for educational purposes. If it works, it gives the investors hope that cash buyouts do exist in the subpenny world. If this does not work, then I think they either are scams, or legit cash buyouts are very difficult to accomplish in the PINK world and are not worth the risk.
Good luck.
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