I just dropped in and see that nothing much is going on. However, you raise an interesting, though implicit, question. What if someone did the flipping of Elite shares at 40-42 cents? To determine the amount made by such a flipper, we need certain assumptions...(not the kind that make an ass out of you and me), but the mathematical kind...
Let's assume anyone flipping has a short attention span based on a desire to limit risk...
Let's assume anyone flipping would not put out large amounts of money because they do not have it to play or they would be doing something else with their time and money, thus...
Let's assume they are not big buyers of large numbers of shares...
Let's assume they would hold and sell within some predetermined narrow range and within a certain time limit...
Now, what more do we need to know to offer a calculation?
That last year the p/s was not volatile but stable, in the mid-20 cent range, particularly from Summer through October 20, 2015...
That the p/s hit 40 cents for the first time around November 8 and then dropped, but moved back into the 40 cent range again December 30, 2015 and stuck around that level until January 4, 2016, from whence it has come down consistently to its current level of 32 cents...
This brings us to the salient question...
If we annualized the payout, adjusting for variability, how much do you think the flipper would make on that effort? Not that much...so we can offer a final assumption - they are doing flipping elsewhere, perhaps at McDonald's, to supplement their income.
Is that how anyone really wants to make a living? While necessity is the mother of invention, that is one mean mother.
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