I agree that these super low PPM offerings will drag the stock price down -- I mean, it was a 30/1RS, and now it's a 30X stock creation and discount shares, warrants and stuff. Having said that, I think that people have reason to be bullish on the potential of the technology. If it hits, it will be huge.
As for this latest pop in the stock price, there's something else beyond the usual price rise from a news release. This is a heavily promoted stock -- and in that sense, Riggs is doing his job as a CEO. He's out there getting funding and generating interest. But since most OOIL investors are well aware that most of the press releases are worthless in terms of immediate revenue, they have had very little impact on stock price over the last year. Typically, when the stock is having a bad day, Riggs releases some news and the stock goes up a few pennies -- or not in some instances.
But this time, the stock didn't just pop a few pennies -- it went up more than 20%, there is a large spike in volume and the price is holding up around $1.20. So there may be some bigger investors getting into the picture. Not sure. Anyway, I hope they start getting some real revenue so they can start to grow on earnings rather than fire-sales on shares. I just wish I'd not bought in last year -- if I'd had that money now I'd get in at this level and I'd have a lot better chance of seeing the red disappear from my OOIL holdings.
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