Tuesday, July 19, 2011 3:06:47 PM
I have no proof that today's selling was dilution, but the share price alone doesn't disprove it either. Technically it wasn't at 0001 when this action started and it has bounced back above that, so at least some of the shares went for more than 0001 so if it was dilution then, no, they didn't wait until 0001, they started just above that. Also I can name at least one stock BZ** which diluted for months at 0001 to squeeze every last penny from fools before it went to no-bid.
If the only funding is dilution then when bills come due and they cannot be put off any longer the dilution will happen regardless of the pps. Obviously 0001 is not a profitable place to dilute but that doesn't mean it couldn't happen.
But even if it's just a bunch of overweight investors getting fed up and leaving today that's not a neutral or good sign for anyone hoping for this to move up. Guaranteed there are now all of today's shares to chew through again to get above even 0003.
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