No. This is not what is keeping the price down. Simply put, OTC is a 1-1 exchange. So If no one was willing to sell shares of mdcn for less than $100 a share, the price would jump to a $100 if only one person was willing to buy a share. Of course, will everyone be able to sell their shares at $100 a piece? no. And that's the problem. There are about 4 million shares in float and very, very few active traders.
If you own shares, the best thing you can do for your own investment at this point is support the bid. Don't buy the ask. Just support the bid. and you will see the ask keep getting pushed up. People will see the share price quickly rising and they will buy in. What's happening right now is new investors are coming in and under bidding each other. A holder gets nervous sells at the bid price and drops the value of the stock. I keep seeing a vicious cycle: new investor gets in at cheap price, old investor panics and sells at an even cheaper price. There are plenty of catalysts to bring the stock this week back up easily. The ask lately as driven the price down because investors are getting impatient. and let's face it, every time mdcn drops, we panic.
Medican's story alone should prevent anyone from selling. MDCN is by far the single best company out there without a license. It is the closest company to getting its license. And with a license it will be the best. It has more going for it than any company out there and it will become the premier seller of marijuana in Canada. and if the US legalizes, MDCN as a US based company with US political connections will be one of the first companies to capitalize on that market.
Just ask yourself, what is the value of a company that is able to produce 55,00,000 grams, or 122,000 pounds of marijuana a year? That has International Herb Ltd's distribution capabilities to do so? That has the stamp of approval by the Canadian National Medican Marijuana Association? http://cnmma.ca
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