Rich, a lot of people who own penny stocks and dream of "get rich quick" hang out at the boards and do a lot of cheerleading hoping that others will read the board and then buy based on posts.
Anyone who buys a stock based on what someone wrote on some message board deserves to lose their dough.
I received this stock as a spinoff from a bad buy I made many years ago. I consider it lost money, and if it turns into something that's great. I can't tell you much about their failed attempts in the past except I know that I expected a stock to go public in August of 2008. That would be an "oops" wouldn't it? Was that part of EBIG's growing pain? A sham? Dunno.
The good news is that the stock EBIG owns in various companies as a result of services they have already provided are not reflected in the quarterlies and won't be unless/until the stock(s) go public. That impressed me way back when because doing otherwise would have been an easy way for them to improve their bottom line and show growth to entice investors.
That said, much of their compensation does not occur until the company in question is taken public, and these aren't penny ante companies. If you do a little research you'll see that these are established businesses which have nothing to gain by only pretending to try to get on the US exchanges, and giving stock to EBIG only to watch EBIG go under.
Could this still be a fly-by-nighter? Sure. I'm no attorney and I don't know enough about the business to say the delay you're saying is a wise option or not. As you said, you don't even know if you're reading it right. If you're not sure about even understanding the forms, how can any of us be "sure" about the implications of the documents. Perhaps it's a very wise move. Perhaps the forms are completed by some firms and it's the smartest thing they've ever done, while others have done the same thing only in order to rip off shareholders. I sure don't know enough to be able to tell the difference. Sheesh... how many of the big money businesses whizzes got taken in recent bank and real estate bust? By Lehman, or Madoff or Enron or AIG?
I'm hanging on to what I have. I don't see this as a get rich quick company, but as I've said before, if these guys can do what they say they are attempting to do, then this could be a very lucrative investment. I don't see them putting out bs PR's promising that we're just days away from riches and wealth, I don't see naked short selling. No wild swings on the charts. I also don't see this stock suddenly jumping to $1.00/share. Anyone who can predict what will happen is a liar or fool.
Don't worry about not being able to sell shares of companies brought to market. You're not buying those shares and a widespread sale of those shares if everyone just tried to take the money and run could bankrupt an otherwise very profitable company.
Ok.. enough rambling from me!
AI
