Wednesday, July 06, 2011 4:53:05 PM
The debt conversion RATE to shares was tied to the closing price of the shares in prior days up to the conversion. Terra and COIN share holders were bailing out before the debt conversion, and the Debt sharks were shorting it down to maximize the share conversion by 1000% (at .05 versus $1/share they got 10 times as many shares for the debt, so they drove the price into the ground). Now they are pushing the price up with bogus news to cover the new issued share dump. So this a huge pump and dump today, IMHO! Go read the last 9 months of SEC fillings, and you will see what I am saying is true.
I had hopped investors would hold the price in the $1 to .50 range to minimize the debt conversion damage, but they sold and bailed in a steady 3-6 month sell off. This is a dead cat bounce, nothing more!!! Congrats to those who got some of there money back in the bounce. I expect a 50% drop in the open tomorrow, partly due to the switch to the OTCBB, if it trades at all tomorrow, as the switch to CABND and OTCBB will confuse people, and bids will be missing, lost, deleted by brokers due to the symbol change, and support will not be there at the open, so MM's will let it free fall?
Someone said earlier that the NASDAQ delisting date is tonight, so it should trade, if it trades at all (It takes at least one MM to post a bid and ask, for it to trade), under CABND tomorrow as an OTCBB stock. The ticker on Ihub will probably not be working yet tomorrow, so check other sites like OTCBB pinks at:
http://www.otcmarkets.com/stock/COIN/quote
or
http://www.otcmarkets.com/stock/COIND/quote
One last thing, when this bottoms later this year at under .01/share, they are already prepared for a huge R/S, which they delayed in a PR about 1-2 weeks ago. And they left the AS at 500 million shares at the last annual meeting, so they can do this BS again next year!!!!!
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