For all of those people running around saying the sky is falling and the company is dumping, you obviously cannot or do not read company filings before you go off. No in fact all most of you do is run around from stock to stock saying the company is dumping and strange thing is with most of these pinkies you are right, not because you are knowledgeable but just because that's what most of them do. This time you are wrong and making a fool of yourselves.
For those who are really interested in the facts and tired of listening to all the chicken little's, here are the facts.
There are 900,000,000 Shares Authorized
As of Sept 30 there were 876,368,278 shares issued, for those who are math challenged that leaves a total of 23,631,722 shares that were not issued almost four months ago. So for all of those who are running around with the company is dumping theory, let's say the company issued the other 23 million and change shares yesterday. In the last two days well over 200 million shares have been traded and I think if memory serves me right, it's around 230 million for those days. This means that even if the company did dump every single share that was about 1/10 of the volume for the last two days. This would have some effect but very little.
Now you want a far more likely scenario, well here it is. It was pretty obvious for anyone wanting to listen that news was coming out. It was also obvious that a number of groups were touting this stock to their members. It was also obvious that a number of news letters were coming out with a recommendation of the stock to their readers. This stock was being front loaded from every single day trader that comes any where near a stock board. I saw people swearing on Wednesday because their broker would not allow trading and they could not front load shares like all their friends.
Once the market opened yesterday, many who were not in were getting in and then the stock started showing up on big gainers and high volume alerts. Then the selling started for some of those who had front loaded. At first there were still enough buyers to keep the stock inching up or at least churning in place but once the number of buyers slowed down, the price started dipping and then the panic set in and the rest is history.
Today there were still some people left around wanting to get out before it dropped any lower. The great thing here for people who are really watching the situation is the outstanding is probably maxed out so there are no more shares for the company to sell. I believe the MMs have probably accumulated some inventory down here in the .0004 and .0005 area and there are still a few that may have been playing it short term and got stuck who are looking to get out on any uptick but overall, the stock price is primed to make a run with any good news.
For those who were paying attention, the website should be up the first part of next week with news not far behind. This is a great entry point for anyone who can ignore the chicken little's of the world who are crying the company is dumping and yet have no clue what has really transpired. There are no more shares to issue and with positive things happening with the company, this is an ideal time to take advantage of those who scream but have no knowledge of what they scream. These are the situations experienced players look for.
Know what you own.
AI
