243 mil shares were traded today. Most were likely dilution. Nobody here ever thought it wasn't dilution.
Roughly $130k was traded today - hopefully (and likely) at least $100k was due to conversion. Why? Because it is going to happen whether the bashers freak out about it or not - and they will. Olives will do his outstanding report as if nobody knew it was coming - he will shake his head in disbelief. Surf will make some stupid comment about the "clowns thinking it is a good thing. Anyone still here (as in those who actually own stock) already knows that $585k worth of stock will be diluted this month. No need to worry, it is coming. $585k will convert to about 1.3 billion shares. We might be about 60% of the way done - just a guess.
For those still in a panic, the company has converted about 5 billion shares starting at .0007. The stock price went to .003 after the conversion started, and then back down to .0005 this last month. Why .0005's? Because the lender who converts gets a lot more shares when they can lower the price. Eventually, when the $585k is converted, things will get better until Mid November, and then again in mid December. If HMBL is able to get a gov contract before then, no problem. If not, we will get to see you pop back here to tell us the sky is falling.
As for "this company is out of control" comment. If you said that a year ago, I would quietly agree - not on a message board as I own the stock and a lot of it. Right now, they are working on eliminating their debt. They still have a burn rate of roughly $250k/month. Hopefully by the time the next q comes out, that will be below $200k/month. It is a long haul, but eventually the company with either go out of business or it will make a profit. If it makes a profit, the stock price will go up substantially. If they are able to get a few sports teams or big concerts lined up, the price could be even bigger. Don't spend more than you have. Don't use your lunch money.
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