People be careful here. This is nothing but a pump and dump trying to get the price up before the reverse split that is coming.
But here is the question you should ask (two actually)- Who is buying this many shares and where are they coming from?
The answers are telling the story. The only people controlling that many shares are the finance people. They own $38.5 million in debt (before today) that is convertible into 38.5 BILLION shares. Now you see where the volume is coming from?
My guess is that there is no real buying. What you are seeing is the cross of shares as the finance people convert their debt to shares in front of the reverse split, which the company has said will be as big as 1:25,000. It is being done in such a way that it appears to be volume. They had to move the price above the conversion price (0.001) to allow the transactions to look profitable.
This same thing happened during the last run. We will be able to prove it when they file the next 8K listing how many shares are outstanding. The last time we saw this run like this, the outstanding JUMPED almost 90% of the shares traded during the run up. Then it settled right back down.
Now, if you were able to get shares in the 0.0005 to 0.0007 range, then you could have traded this today and made a little money.
But if you have read the SEC documents you know what is coming- An approved re-incorporation from Delaware to California and one of the biggest reverse splits I've ever seen.
And now we have word that they are pumping the stock in paid newsletters.
Jail will be too good for these people.
Stay tuned. The only question is how long can they wait before the re-incorporation takes place and the reverse split is effective.
AI
