Look at the info posted at the head of the message board -the stickies(the yellow header) plus my and other longs posts.
Etmm and shorters etc have been artificially depressing the price since May when it was .007.
Finally,due to pent up price pressure apparently primed by many peoples realization of imminent revenues via the 12-30 PR,etmm and the shorters couldn't hold it any longer.
So they reached deep in their bag of tricks to call otc and complain and falsely accuse.
OTC issues a cautionary warning because the incredible chart,volume and volatility make it LOOK LIKE there is a massive promotion by a number of penny newsletters.
Special interest groups who were getting burned by the price rise and needed to bring the price down then flooded the message boards w false unproven accusations of fraudand promotion by the company.
I called OTC trading services and they told me it was not because of fraud-there was no indication of fraud-but because it LOOKED LIKE there had been a massive stock promotion(the kind that comes when many penny newsletters get together to promote the same stock)-see my posts-due to the large price increases and gapping from day to day etc.
Because of the culture of fear these special interest groups have cultivated in the penny stock arena(taking advantage of the economic uncertainties resulting from the great recession-its on record they helped create the financial crises w their shorting and their have been investigations of shorter's price manipulation )people would rather believe the lies than the truth.
It is easier to destroy than it is to build.
The big middle gives these groups permission to be successful by falling for their lies-unwilling not only to do dd themselves but also apparently unwilling to read the unprecedented dd posted by itmd,myself,killswitch,temeku,pesquero,bullitt,masscommuter,jackg(though like some he largely lays low because still adding I believe,as I am)and others.
The dd is posted. But you can tell by many posts they haven't even read the dd,not even recent posts,only the lies.
My personal opinion is you shouldn't be in pennies if you don't understand the agenda of these special interest groups,or they will make it impossible for you to profit if you run every time they shout wolf.
Every time a company attempts a breakthrough,they mount an often organized campaign to smear the company,w their usual mantras of dilution,scam etc.
So nellies believe the lies,take a loss and run to another penny stock-one where they will likely lose also. So by allowing themselves to be pushed around,longs never make any money,withdraw,the market shrinks(as in the recession-its only been climbing again since ca August)until the market is destroyed.
Read the projected share price estimates by itmd,myself and others(itmd's is in his summation in the yellow header). If you're not willing or able to do thousands hours research like me, all you can do is assess the research people like myself and the others listed here have done and recognize the motives of special interest groups.
The stock will recover. My recent estimate showed a price of 28 cents at the end of the quarter w conservative PE of 10, 50% buyback and the number of shares indicated by otc listing of shares and market cap w the 32 million revenue projected for the 1st quarter. They already had 21 million dollars in ore stockpiled in late Dec(118k tons times ca 175/ton in a rising iron market)and have more than that now. Each 35000 ton shipment will gross 6 million plus and net 3 million,and the 75000 ton shipments will more than double that. There aren't many penny stocks w that kind of revenue and certainly not at this low price.
Meanwhile,some shorters used the artificial price pull down to cover and other shorters shorted at the peak to make a bundle-some of them aware of the impending caution by otc(insider trading)which they pushed by complaining to otc trading services.
AI
