Seven Arts Entertainment Inc (SAPX)

[sbc357]

It will continue this way until Peter Hoffamn is OUT; that is, IF PH is ever out!
Noone will buy any shares above the latest support because it is obvious that the latest support has immense probably to be the unreachable high within a week: A high that is not likely to be breached ever again. Then Peter gets desperate for more money to spend (kind of like the US government) and all he can do is issue even more shares at an even LOWER price, thus busting through any support the stock hopes to muster. And Peter does not release just a few hundred thousand shares, he releases millions upon millions until the price gets destroyed so badly that about 25 to 50% of the share value gets lost.
And there you have the pattern - will stay this way until someone new takes over the ship. Someone with some kind of dependable plan to start this company on a business plan of some sorts instead of a pipe dream.

Not sure there will be enough of a company left that anyone would even want if this does not happen within the next month.
I think NotRichYet makes a very profound point when he shows that there really is negative value in this company now, due to all the stupid financing that Peter did and deals with worthless talent that sucked up any value rather than added to it. Because of this, there is not much reason for anyone to come in and buy it, or oust Peter. Just let him continue to drown the company in shares that he uses to suck off enough money to pay himself and his daughter while they live overly extravagant life styles that they do not have the morals to earn, they are perfectly content just stealing from people in this crooked market.