True, but there are a few industries which are more likely to dilute shareholder value than the rest. In my experience those have been entertainment companies, especially pennystocks which claim to be in TV, Music and Film production, and many many junior miners. If the junior miner is a pinksheet, I usually just write them off unless they are unusually transparent. Far too many are cynically setup as pump and dumps, imho.
This is a prejudice borne of experience.
It is possible to make a decent profit with penny stocks, but you've got to know which stocks to avoid, and there are certain cateogires which have more than their share of BS stocks. Of course they are mostly scams, but let's just say some scams give you an opportunity to profit, while others are set up so that only the company management and their hedge funds will ever make a dime.
For every HMGP, there are dozens and dozens of oil/gas, gold, silver and diamond mining stock boards filled with endless BS PRs about assays, engineer results, and new claims. Some of those boards even have my name as the moderator. I don't care to tell you how many hours I've spent, tracking down company CEOs to hear their story, or listening to their chief engineer spin tall tales of gas well treasures soon to be PRed. Yet all the while, the stock's PPS continued to drift ever downward.
And don't get me started on film stocks..lol!
Bio-med stocks run a distant third. They still dilute heavily due to the cost of research and development, but at least there's a distant chance in hell of the stock actually turning green if the company is acquired, or the debt is paid down. DNAG is one of those that has actually been climbing out of sub-penny hell.
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