More than 18 million shares have been dumped today, however the most interesting feature is at 9:49, 4.3 million shares have been dumped at below the bid or .0014 and yet it wasn't registered as the daily low, as it looks MMs are desperately trying to hold Petron's share price at these levels while allowing somebody to unload some serious amount of shares. What it also shows that even MMs now having a hard time salvaging anything unless they are willing to dump below the official bid. No buyer at all. The dominant majority of buys was MMs trading with each other. There is no way this thing is going to see .0025 again, it is my revision since it never saw .003 since I called for it, now it will never see .0025 unless they do R/S. Even MMs also now are very careful and have a very conservative short positions since they know no more retail interest. All those alleged bid positions are MMs gamesmanship and the moment anybody tries, they immediately change. Also, what is becoming apparent the spread is .0002 more often than not, and what it means is MMs don't want anybody who wants to sell, MMs want to make sure the price they get islowest as possible and if somebody who is bold enough to buy, to buy at the highest possible. That is why I said that flipping this stock is impossible any more.
As it looks also those 15 billion A/S were pegged to a share price of .001, however, I just did a little research and not a single hedge fund or any financial institution is going to give a penny to a entity with 15 billion A/Ss, share price at 000 and no retail interested because they need to convert that debt into share and be able to sell. In addition, in a company where CEO and owner's credibility of a serious question based on a prior track record, hedge funds are very wary about prospects of those shares been sold.
The probability of that S1 approval is none to zero at this point and I am sure management knows and if they continue filing it, then the logical question is why do you spend $50K minimum on these filings. I think it prudent to place a certain phone call and inquire if this filings are actually taking place.
FYI Every single company has to file their tax return by March 15 including Petron, and every single company that tries to be transparent issues 8K prior to that, even if it is not a full blown 10K, about their prior year results. IMO
