Not "smart money" at all buying at the ask when there is such a gaping spread of 60%. But it was only a couple of hundred bucks, so not too big of deal I guess. Trading a spread like that is a complete folly and as the volume shows, not many will do it.
This company hasn't even had a financial for about 5 years, let alone an audited one. Can't even make a reliable decision on investing into it. All it's had is some 8k's and Reverse Splits and such and lack of drilling (even though payments of restricted stock went out about a year ago, probably needing to come into the market about now).
RS's are used all the time for issuing more toxic debt shares and without proper financial reporting, any prospective investor can't see whats going on.
For example if there is an OS of 250 and the company RS's it to 1 that means now since the AS has remained the same there is more availability to issue more debt or shares and still have it seem like the OS has been reduced, but is still way over the 1.
Done all the time in the pinks and back and forth the OS goes, but alas, still over the 1 and even that one is worth so much less in actual dollar amount of the original 250.
They are going to have to close that spread AND increase the volume enormously to have any "smart" trading and get some audited financials out for investing (good luck with seeing that).
AI
