Ok, here is my take on the mess we are in here.
I didn't know that Asher is even involved here. To be honest, I haven't seen it when I skimmed through the filings a few weeks ago. Should have read more closely but if you trade 50 or 60 stocks at a time, it's sometimes hard to read every filing so thorough.
In the first few months that I owned and followed the stock, it was trading rather thin and pretty clean. At least that was my impression over months so the last thing I was thinking about was guys like Asher here. There never was any big volume spike to the downside or any such thing in the first few months I owned the stock. Just the last few days there is a volume spike now.
Now a few weeks ago suddenly VERT arrived which we talked about here. At that time I should have checked for any Asher or similar involvement here which I did not unfortunately. A few days later WDCO joined VERT and it was basically only them bringing this down from the 3 cent range. I thought they will be bought out soon with the numbers the company filed in the last few quarter and that they will disappear rather fast.
But the opposite happened lately. There is basically no buying at all anymore on the ask for many days now. Quite the opposite happened. Everybody and his mother suddenly joins the selling and often undercuts VERT and WDCO for most of the day. It's crazy to think that we are in the low teens now while the company made 300k in net profits last quarter.
Yes there has been dilution here in the last 6 months. But all in all it wasn't that much so it wasn't really concerning me until a few days ago. As somebody posted here, Asher converted a 30k loan into 3 million shares in january. He will probably not go below one cent but who knows about all the other guys who were selling today.
Obviously from a numbers perspective these prices here are a gift, but at the same time I have no idea what will happen with the stock in the next few weeks. I assume that Q3 will be even better than Q2 and I just don't see how this one won't go back up to at least 3 cents after a while. Obviously it will depend on new share issuances and question for now is how low will it go first. But I do wanna emphasize that we were trading at levels today which the stock was trading at 9 months ago when they lost a lot of money each and every quarter.
Just my 2 cents. As I told some people via PM and as I always state, these are risky stocks and only because something looks really good on the surface, there are often issues that emerge out of a sudden. Rather small position sizes is a must in these stocks. IMO
I will watch it closely from here but I have been a buyer today at 0112 for a few more and fully intend to buy more if we go there again or even lower than that. Unless of course something happens that I don't like or some other bad news comes out, then I will reconsider.
AI
