Turns out it was the the bunk deal they we supposedly working with the Old CEO. That they were working with someone, who wasnt referred to as the CEO, but was in the pr they recanted. But as we all saw, they were in talks, just that it wasnt the person who would/could sign, seal and deliver the deal. There is zero current deals in the works today. Which was why, even though we alerted this one at .0011, we saw traction to almost half a cent. Yet, we told everyone, lock in profits, ALWAYS. That all changed since the distress SOS alarm was sounded by the most recent shareholder letter.
And even though we changed our feel here, the stock was still hitting 19s. So with the letter, there was a higher out still. We dont recommend anyone hold this now at this level. The same reasons it sat around .001, is why that will be tougher to hold, when it returns, because the distress call surfaced and exposed much larger issues. This is now a long way out, if they survive. Difference this time when it sits at .0011, last time they werent in a form 15-12g filing status. They will de-register within 90 days of that filing. Disregard everything prior to the shareholder letter now.
Some may choose to hold and think its not tanking just yet. But as the volume is dropping, as you can see these last two days, the only reason it didnt close at the lows of the day, were due to desperate paintings of the tape. That will be temporary. See they have no money. So even if everyone wants to hold now and not sell, its not them(longs holding) who is going to crash the price. Its when they(the company) need any cash, for anything, near term, it will be the dilution of shares that wont be met with millions of shares worth of buyers, who thought they were closing a deal. The overall picture is two different company positions now. They have nothing to counter this time. So no one has to sell anything. But when the company starts selling shares, as they will have to, they will sell this down for everyone.
One big exception. Last time, many were holding on to "they were in talks" and the PR was just off a bit, to where they now say they have no deals or finance talks in the works. Were telling you this now. Therefore, they only have one way to raise any needed cash near term, and its going to be more than the 10 to 15 million shares that trade a day. That alone will continue to drift this lower. This cant survive those 75 to 100 million share days anymore.
Holding, knowing its drying up, and nothing in reporting can help balance, it will soon just start selling shares, as needed. They will have to take what price they get for them, and that will raise share counts quickly. Theyve been trying to close deals and raise capital the past 18 months. Its led to nothing, as everyone now knows. Key, NOW KNOWS. So thinking they will get a sweet deal the next 2 to 3 months, when they havent for 18 months, is just wishful thinking. There is no plan "b", they cant pay to file, and its strictly "survival mode" now.
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