The banter here can be entertaining, but let's keep things in perspective, shall we? I'm not an expert, but if you read and reflect:
1. This is a penny stock and a start up needing funds - future stock dilution is to be expected.
2. $20,000,000 agreement for "stock purchase", dictated by BMSN, not SouthRidge. Also, if you read both the April 26, 2012 PR and today's 10Q, the shares purchased by Southridge cannot add up to over 9.9% of the outstanding shares. And Southridge cannot short sell shares. (Heck, the fact someone entered into an agreement of $20M obligating them to purchase BMSN stock is a sign it is not a fraud.)
3. 10Q talks about unpaid bills, so my thinking is there are holding out to have Southridge buy shares when stock price goes up. That's a good thing.
4. While I don't buy into or plan on "big pharma" buying out BMSN now or in near future (all BMSN has is animal study and IND filing at moment), I do see a lot of positives to be a LT investor in BMSN.
a) BMSN has filed 5 PRs this month and 2 last month. Some of those were substantial in light of the past 2 years of PRs. (They followed through on having pre-clinical testing, were published and the pre-clinical testing started in November proved successful enough that less than 3 months later they filed an IND.
b)The fact that the 10Q and other needed reports are being followed this month shows some work is being done. Remember, this is a handful of people, not a huge company.
c) Today's drop and selling, especially if it is people reading today's 10Q and selling is healthy for the chart from a technical aspect. This has run hard from .002s to .0165 - that's astronomical and needs a healthy sell-off before going higher.
I'm holding what I have and will add more. Fibonacci retracement shows a 61.8% retracement on the run could enter the .006s. It might; it might not, but .006s - .007s are good range to enter if you are an investor at this point.
I'll leave it to the DTs to continue to voice their own strategy, but I hope to be back in the green significantly within a month.
As I type, I see I just added more shares at .0077.
GLTA and keep up the entertainment.
