CapQuick: IMO, part of the problem may be the continuing delay in the long expected effective date of the Securities Registration to sell the 26 Million+ shares. The original S-1 was filed way back in mid-June, but IWEB has apparently been forced to repeatedly amend it, with the 5th Amendment (S1-A) having been filed this past Monday (1/10/11). So, another 2 months have now passed since the S1-A (4th Amendment) back on November 10, which followed the 3d amendment on October 15. Many will recall that there was widely believed that the stock would recover quickly from the .20-.22 range as soon as the stock registration was made effective, but here we are almost 3 months later, and nothing has happened. At some point the company needs to get it right and get it done with the SEC.
I am still long the stock, and believe this is a great buying opportunity, having twice recently added to my growing position down here between .16-.17. The resistance clearly appears to be at .18, and as soon as we break through .18, which I believe will definitely happen sooner rather than later, we can then move back above .20 and beyond. But, it would certainnly help to see the S-1 made effective by the SEC in the near future, as that process has gone on long enough.
