Replies to post #41341 on Bitzio, Inc. (fka BTZO)

[Trader_Jake]

Problem is they need money to buyback and retire shares outstanding. They don't seem to have the money or be willing to do that. Instead they have issued gobs of shares, convertible at a fraction of .001 (preferred) and .0001 (common) par value.

This kills an OTC stock. They do it to pay debts and pay themselves. There is such a slim chance that anything BTZO could do would actually move the shares required to move the PPS. They could RS and try a new foot forward approach.

Time will tell.

I understand why you would question why a ticker would legitimately destroy its own share price, but it happens. Either as a last resort or because it's just another OTC scam stock. I think BTZO has done it for both reasons.