Charts don't lie. If I were to look at that chart without a name on it, my immediate reaction is someone is selling into the float. It is no longer reacting to the proper catalysts like it was before because of downward pressure.
I am looking forward to the 10-K in March to see if there is any further share structure change.
Check the filings:
9/15 - 103,627,246 shares outstanding
9/30 - 103,725,361 shares outstanding
11/24 - 104, 125,361 shares outstanding
Anytime ANY company puts out FLOAT numbers and EFFECTIVE FLOAT numbers, you have to expect the EFFECTIVE float to increase. There is absolutely no way to keep a correct accounting of the float. 13.4M Float & 5.6M EFFECTIVE Float. You HAVE to consider at some point the float will almost triple from those original investors or as the company has occasional fiscal needs. However, what the CEO did with the oven-lease program proves he is a very original thinker, so I think he is very aware of the stock pps and will be seeking to keep the pps up in order to uplist later.
The numbers are absolutely miniscule, but even 500k shares adding into a 5.6M float will weigh heavily.
I still think this company will succeed as the food receives exposure. So, I don't want to sound like a basher because it is the first stock I ever transferred into my IRA while it was still a PK stock, before it became a QB. Of course, I am averaged around .06 - that always helps!
All The Best
Be careful, most people get burned by penny stocks.
