I think the writing was really written on the wall back in Feb-March when they starting doing HEAVY dillution that they were looking to RS eventually. We all just got fooled by all the good news and good 10Q numbers that came up. Once they legally dilluted every single share they could they R/S. This is where things get really horrible to be honest. They R/S 200/1 which is a terrible ratio, but it can't be all bad can it? We think they do it so they can get the price up to where they can eventually move to the big boards...and the OS drops to 3 million shares. We think well that isn't really so bad as this low OS allow us to move quickly...than BOOM!
Issue 5 million shares at .001 when the price is $2.00. WHAT IS WRONG WITH THIS PICTURE? They should have been issued at .50 or 1.00....not .001. COMPLETE SCAM. Top it off it was to pay $5000 in debt when the company has millions on the books. Make sense?
Oh wait gets better. They sell 100 million at .05 when the price is $2.00. SCAM TO BUY THE COMPANY FOR 5 MILLION DOLLARS which is less than what is on the books.
So what do us investors get? Well we get 1/200th of our shares...and then a day later the os goes up 35 times. So really all we can expect is for this to drop to .05 cents which would be around .0003 pre-split. Just one big amazing scam...and they did it all while filing what has to be bogus numbers. I really hope the SEC tracks these guys down. Should be easy with all the BS they have cooked the books with.
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