Welcome to the board Jon Jon. Yes, a .0001 increase in price seems like a pittance, but if the price was .0001 just a month ago, then .0003 is a pretty big move percentage wise. If you owned $10k worth at .0001 (easily gotten not long ago), and you sold at .0003, you would have made $20k over your initial investment. Tesla and Apple can't boast those gains this month.
And further, RWAX had a really big debt problem in the past. They had over $30mil in convertible (mostly toxic - death spiral) financing. I personally thought there was no hope at that time until they started getting rid of the debt by placing a huge wall at the bid so that the company wouldn't go out of business. Got all my attention in one quarterly filing. I was pretty shocked because I have seen and even done research on death spiral financing. Know how the courts view this financing in different states, know how the mafia... er lenders work their magic... and I have never seen anything like this complete pullout of a kamikaze plane doing the last 10minutes of it's final flight.
We just got a management report with the OTC showing that RWAX managed to eliminate about half it's current remaiing debt from Oct 1 til Dec 31 from about $2.4 to $1.2mil in convertible debt - plus we know that they eliminated a bunch of other debt that they called other things - like preferred C shares. Well, back to your point... 1bil in shares bought at the ask equates to about $130k in discounted debt removed in the Middle of March. From Jan 1 to March 1, there was likely another $600k in debt converted (Just a WAG - wild guess) and then... today.
BTW, some claim that there might be 20 - 90bil shares remaining in the conversion - they are FOS. There may be 2bil on the very high side. Should we move to .0004 (a pittance again), that number would be reduced significantly. Onward and upward.
One last note: The fact that 1 bil shares were sold at the ask means that something changed - we are now on offense. It was noticeable about a week ago when the ask was slowly getting chipped away.
I said on Monday that we were likely to break through this week - it was a guess, but odds were definitely in my favor of being right. If you are looking for that particular post, you won't find it as my posts seem to be written in disappearing ink lately. Not quite sure who I offended, but it was someone.
If you decide to stick around here, watch the trades. They are really interesting lately (again). As this is my only post for the day, I will see everyone tomorrow. And congrats to the holders. This is just the very start of the very beginning.
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