ummmm - the "italics" in my post is a quote from the person I replied to. and thought it was odd they were blaming it on IR and that the CEO knew nothing about it.
address the person that made that claim - please.
This post was pretty enlightening as to why such an "event" took place - to dump shares:
... 2) DNAX put out a press release on Monday before the open that they had signed an agreement with the Trenton branch of Coca Cola to distribute the DNA line of products. The press release linking DNAX to the largest beverage company in the world, Coca Cola, sent the DNAX share price flying from $.0024/share to $.015/share for potential profits of 525%. DNAX managed to generate 582 million shares of volume between yesterday and today. On June 3, 2014, just ahead of this big announcement, DNAX filed a pre14C disclosing that they were raising the authorized share count from 400,000,000 to 1,000,000,000 to make room for the issuance of 80,970,283 new shares mostly for debt conversions. 80,970,283 new shares entering the float is plenty of motivation for the press release on Monday morning. Since DNAX had an outstanding share count of 318,409,512 as of June 3, 2014 there was enough room for them to issue those 80,970,283 shares prior to actually raising the A/S to 1,000,000,000 meaning those shares could have been issued before Monday morning's press release and dumped between yesterday and today. Today after the close DNAX issued a new press release retracting ALL of the information from the Monday morning press release. According to the new press release, DNAX never signed an agreement with the Trenton Coca Cola and the quote attributed to Chuck James (sic), the president of Trenton Coca Cola, was never made by Chuck James (sic). DNAX flat out admits that they never had an agreement with Trenton Coca Cola calling the information in the previous press release a "misunderstanding" and apologizing for "getting it wrong". DNAX claims that somebody pretending to be Chuck James(sic) made the quote attributed to the real Chuck James (sic). In my opinion it is obvious that DNAX knew from the start that they didn't have a deal and that they were releasing fake quotes. This was a huge fraud to manipulate the DNAX share price. The DNAX CEO, Eric Fowler, lied to his shareholders in a publicly disseminated press release. Not only will the retraction now cause the DNAX share price to fall back to $.003/share or lower, it will also make DNAX a huge suspension risk.
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