Replies to post #20826 on DNA Brands Inc (DNAX)

[Ed the Trader]

"Wrong, there is no bid, period. If you wanted to sell today you couldn't, no matter what price. The basement has been reached.

You could put a GTC sell at $0.0001, but it may never get filled. If it did fill, it would take weeks if not months."

If one wants daily liquidity, an OTC Pink stock is rarely a good choice, and that is especially true if the O/S is in the billions as even the most highly traded OTC stocks usually peak out in the hundreds of millions for daily volume. Even then, it is rare for the same OTC stock to stay that liquid for more than one or two days in a row.

The facts are that 10 million shares of DNAX were sold yesterday, and those shares belonged to someone. So, they were able to sell. Some shares have already sold today, and those belonged to someone. Those people sold their shares. That is not a no-bid scenario. No-bid is when there are no buyers AT ALL and the daily volume is zero. As you said, you may be able to sell your shares eventually, but you have to stand in line to wait for your turn. Unless you are trying to sell one of whatever happen to be the dozen or so most popular OTC stocks on that particular day, selling on the same day can be iffy. You are right that when the PPS is $0.0001 on a ticker, you may not be able to undercut the current bid to force your way to the front of the line to sell NOW, but that still is not a no-bid scenario. If you don't like the selling prospects at $0.0001, don't buy stocks priced there, and don't continue to hold stocks heading there.

If you must really be out NOW, you could try selling at Market price instead of placing a limit order, or you could call your broker to see if they will place an order for you below $0.0001 (like $0.000099 or less). OTC supports prices down to $0.000001, but brokers limit the prices below $0.0001. Yet, some trades below $0.0001 still occur sometimes. Figure out how to get your broker to allow it (by calling them on the phone), and maybe you can sell today.

[Mr. Obvious]

You could put a GTC sell at $0.0001, but it may never get filled. If it did fill, it would take weeks if not months.

Damn, if only we had your crystal ball a year ago! Please do share... So even if news is released later today about financing we still wouldn't be able to sell? Amazing contacts you have there pal.