Fellow readers,
I apologize for not writing on the board recently. Events in EIGH have become the topic of conversation and have taken up a lot of my time. I'm still watching the Q's for swing trades and running a scan each day for Monk's Rules plays but for now I'll expound on EIGH.
EIGH management royally screwed the pooch on this one. They should have known that they could not pay a dividend with the financing they had in place and should never have PR'ed the dividend. They were already releasing decent news without the dividend and the stock was moving up on it's own. The dividend announcement was a horrible idea and they should have done their homework. They made a huge mistake but I do not think it is unrecoverable.
The PR was not all that negative. If you ask me, they should have PR'ed the stock buyback and share retirement prior to announcing that they could not pay the dividend. If the company follows through and begins to retire shares, the float will drop significantly and at a share price of .06 ish, it would only take them 8.7 million dollars to buy up the entire float. The financing they PR'ed was roughly 40 million. Now if I was management, I would buy up every available share I could as fast as I could. Why? Well, if you purchase shares on the open market and you wind up buying more than the tradeable float, it proves that there are some shenanigans out there in regards to the amount of shares. Heck, they were going to pay out 7 or 8 million in dividends anyway, why not use the money to buy back all their shares.
Anyway, I'm holding what I have. I do not believe the company is a scam and even if it was (and this is for all you wonderful people who want to save me from myself), it's my F***ING money and I can do whatever the heck i want with it! If I want to burn it, wipe my rear end with it, give it to charity, or dump it down some pink sheet scamhole, THAT IS MY PEROGATIVE!!! I'm not sure if everyone out there in internetland understands this concept so I will repeat myself: IF I WANT TO INVEST IN A PENNY STOCK OR FLUSH MY MONEY DOWN THE TOILET, THAT IS MY OWN F***ING BUSINESS AND NO ONE ELSES. Last time I checked, I lived in America and can say what I want, when I want (with a few exceptions of course). I can also do what I want with my resources as long as I don't do anything illegal.
So if EIGH gets halted, goes to zero, goes to $100/share, or is taken over by a Klingon Conglomerate, as long as nothing illegal happend, it is my own business. Now, if crimes have been commited, then I'm all ears but to date, I have not found any evidence of those. If someone can prove to me that the company engaged in illegal activities, please send the proof my way. Until then, it's all just opinions and you know what they say about opinions: they are like a**holes, everyone has them and they all stink!
I'm done for the night. Roll the dice, let the chips fall where they may and we'll see who is right at the bitter end.
/rant off
Fly Safe.
