Wednesday, July 06, 2011 12:24:49 AM
They have failed at all (4) the chances they had to salvage this company from failure. It is too far gone non. No one will risk the huge capital required to cut a deal with COIN now for a Terra deal (would trust a million dollars up front to COIN to buy into the scheme right now, hand a BK company $1,000,000 for something no one else is buying?), as they are already insolvent, now for the third time in less than 3 years. No one will fund their projects now, or lend them money now. Even convertible shares or convertible debt is now worthless. The last lone sharks and the CEO have seen to that with this 95% sell off, and I do not think the massive share dump of convertibles has even started yet!!! (OUCH). 3 months ago, I had hoped the insiders and loan sharks might have sense enough to keep the shares at $1, and keep it on NASDAQ long enough for Terra to get something going, but allas it is obvious the insiders and institutions have selling as fast as they can.
.001 /share by year end is my current gut feel for this POS. And since I was the lone standing BULL here the last 12 months, if I am saying .001 by year end now, YOU CAN REST ASSURED this one is cooked, finished, dead, a dead man walking class stock. To give you an idea how bad COIN is now, I just bought shares in a China R/M that just volunteered to be listed from NASDAQ after trading was halted for 2 months, one that does not even have an MM bid/ask prices yet and is on the pink sheets with a yield symbol and I bought it today at .40/share (PE is 1 on it). I am that kind of ultra risk taker on a bottom fishing for ultra cheap stocks, and I tell you today I will not spend even 0.001/share for COIN right now, because I see it going to ZERO next!! I am done holding this bag!!!
The CEO admitted in the last CC when he was asked, said that the farm they said they were buying 14 months ago, never happened because they could not secure financing! It was a profitable farm using COIN products! That was 14 months ago, now they finally tell us it is never happened? What else are they hiding?
Very sad.
With proper management, this could have been a beast of a company! If any one gets a tar and feather party together as a going away party for the CEO, let me know, I will supply the feathers!
Rant NOT over...stay tuned, LOL.
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