Well I had assumed anyone buying CGFI stock relized it was similar to buying a lottery ticket, maybe with slightly better odds. Absent much indication of probability, some people believed a CFO with little experience in this industry had probability of meeting his projections- and same people projected valuations based on the rather interesting concept that one doesnt include expenses and CAPEX into financial projections.
Will be interesting after the reverse whether a new flock of buyers with similar approaches start buying the stock, or if afetr 2 reverse splits it proved more difficult for CGFI.
So does anyone now think CFO will meet his stated projections ( still on the website)for when mill would be operating ? Will price drop to $.0001 ? Who on earth is still buying right now ?
One thing for sure, an interesting company to follow ! Lots of tax losses for people this year !
I still dont know where these convertible note holders placed their stock with a DTC chill ?
I find it curious wording that certificates need to be replaced- this could really limit the float temporarily after the reverse.I dont know but how does this effect DTC ? If an existing DTC chill but some shares had already been placed with DTC from years ago, what happens now if those certificates with DTC now need to be repalced ? Or does this reverse have something to do with the DTC chill ?
AI
