change in China revs and new audit firm coupled w/ intentional fear mongering about share increases that were used to grow/expand revenue generation and asset base. Getting in these levels is a wise move. For the OTCQB world this is growing and has a very reasonable share structure. ignore the board games and you will do well here.
dshade has been here a long time, like many of us, and his view is spot on IMO.
You are correct though. Dilution is certainly another reason the SP is this low. Nearly 100MM shares have been added to the O/S this year in order to raise funds for growth and expansion. It seems these funds are being put to use wisely. The dilution it seems, has ended recently.
Also, read the most recent letter to shareholders released by the CEO this past Wed. 5/21. It's very informative and he explains in detail how the issue with the China revs is being handled as well as the company's current state of affairs in general. This is the link to the shareholder letter which can also be found on the company website. http://www.ewastesystems.com/wp-content/uploads/Letter_To_Shareholders_2014-05-21.pdf
I also suggest you stick with the verifiable DD posted on the board as well as your own DD. There are some fairly radical opinions posted here as you shall see. Try to read between the lines if you get my drift.
GLTY. You are here at an extremely opportune time IMO. Cheers!
Dilution and buy reccos from .10 down. See SS increase for further review. No viable revenue stream, see Q1 for further review. Anything else is just a desperate attempt to glorify what is/isn't happening.
Mainly, it seems the share price is where it's at now due to the issues with accounting for the revenue from China. This led to a change in auditors and in the OTC, that always scares off investors. So instead of showing about 20 million in revenue, that revenue had to be left off the audited 10-K in order for their current auditor to properly account for it. The accounting issue should be resolved in the second quarter. This is all discussed in their shareholder letter.
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