Mike Lindell Media Corp (MLMC)

[eagle_2975]

Stock Noob and martyMAC,

Yes, as I said, I own 700K around $.007 cost basis. What do I think they should do? They need to get a private placement done at a fixed price to raise $1M or so. If it was done at $.005/share, that would be 200M shares. It takes away uncertainty in the market at the least but also takes away the incentive for the convertible debenture holders to knock the price down to gain as many shares as possible for their investment. They could then come out and say that they had enough money to fund their business plan to the point where they would reach profitability and that no reverse split would be needed unless it was used to achieve a listing on a larger exchange. We'd be sitting at a stock price of $.03+ IMO with that news, instead of possibily drifting down to closer to 1/10th of that.

stock noob, usually i'm one to want to average down on stocks if I like them, but this is an OTCBB penny stock, and it has different rules. The stock is being diluted severely and it does risk the possibility of a reverse split which can kill stock prices and shareholders' interests. I'd wait to average down til it hit the $.004s if I were in your spot, or hope it went back to where you could sell for a minor loss or around breakeven. It is possible that this could run back to .015-.02 or so, or just continue drifting down. I think it ultimately depends on what the death spiral financing holders want it to do.