Real Small float? It use to be 2 million shares
Remember way back when, pre 1:1000 reverse split, when the shares had only 2 billion shares authorized, and then they did the reverse 1:1000 reverse split, making it 2 million shares? Then they started issue shares and people were like, "Yea, but they are held by insiders and won't get sold, etc, etc, etc.. Also the stock traded for around $0.10 or so?
Now there are 53 million shares, existing shareholders have been diluted down to almost nothing, and the stock trade for around $0.005; so everyone is looking at losses of 95% or more.
Next up, NO BID at $0.0001. It will be the 3rd or 4th time the insiders have done it with this company so it is just more of the same playbook.
BUT there may be one thing different this time, a shareholder derivative lawsuit. I bought some shares a while ago, so I would have standing to file a lawsuit and do full discovery; then we can see where all of the money got spent, and who said what and what kind of deals were made, and track down everything that the insiders did with shareholder money, and even go back several years and go through all of that.
The best part will be taking depositions on the officers and insiders and getting them on the record to explain what they have done over the years to successive waves of shareholders.
I know I am going to look forward to it!
Louis J. Desy Jr.
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