Is there dillution going on? Yes there is. How do we know this? The company has flat out told us they are dilluting. They have issued at least 30 million restricted shares in the last month and a half and possibly as much as 53 million. Is it an attempt at scamming shareholders? I don't think so. I did not see the type of sell pressure we are seeing the last couple weeks when we were trading above .015. If in fact their intent all along was to dilute, they would have done it when we were above .015.
I think it is obvious that the sell pressure is coming from the recently issued restricted shares. I believe that is why we ordered the NOBO. I sure hope Abe learns from this. People can always find ways to unload "restricted" shares. This dumping is more than investors panic selling. This is systematic selling by professional market makers.
If the TA shows a decrease in OS tomorrow of 100 million, do you think we will make it back above .008? Any thoughts? I honestly don't know. Either answer I would not be surprised with.
IMO it seems they do have a broker... we all know who it is..HDSN and where your wrong is selling it all fast... that would net you the least amount of money... what would get you the most possible would be to wait for the bid to build and then hack it and wait for it to build then hack it until they see it's getting really weak, then they drop their load right down on the bid and sell into all the pre-existing orders.. wait for the bid to build and hack it, etc till no more bid... drop down another one... exactly what we have been witnissing... there is no more news they can post to get it to create a run for them to sell into..
I wanted to believe too. But like Likwit DD prevailed and the true story is unfolding. I still hold a few shares just in case my due diligence is wrong.
This all started in 2004 with a company called "Prime Rate Investors" PRRM. Here is a brief synopsis of PRRM
- CEO Richard Astrom - Main operating subsidiary was "Tampa Bay Mortgage Solutions" a hard money mortgage lender. - Did a 1 for 10 forward split. Planned on going OTC BB - Planned on providing audited financials. Reducing shares. - Loaned $1 million to an Arkansas Hotel complex in Pine Bluff. The company that owned the hotel was NHGP. Its CEO was Ed Hayter. - Hired "Windsor Capital" to help it acquire a NE hard money mortgage lender. - Finally Richard Astorm and PRRM went their separate ways. Astrom with Tampa Bay Mortgage and PRRM with a TV station they acquired. - Astrom eventually sold or transferred " Tampa Bay Mortgage" to NHGP. Ed Hayter is now owner of Tampa Bay Mortgage and the Pine Bluff Hotel.
The most damning DD is that PRRM did a Regdex 504 filing which is basically used to issue shares. Wien Securities handled the share issuance. Geuss who bought Wein?? Hudson securities did. Geuss what their listing symbol is?? Its HDSN our friends who are currently pounding the stock every day. HDSN has sold 275 mm shares of FGFC this year. Where do you think they are getting this stock.
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