Replies to post #237622 on Blackout Media Corp (BKMP)

[cardvic]

I hope you are right virg, let me use an example of a stock we have both been invested in USXP. USXP had a run to 4 cents last year when the O/S was at about 4 billion as I remember. Today that stock has an O/S of 16 billion, now that is documented. I dont care what RA says about naked shorts, he diluted the piss out of it.

[fenian32]

so where a re all the shares coming from that they are using to cover. covering makes the pps rise not fall. Sounds like you are talking crap. And very much looks like Sandy is diluting billions more shares or at the very least billions moree are been added by somebody else .

[steffman]

Virginian - that is right on the money!

S.

[fonzzz]

I think we all would like to know what exactly was happening last week.
On the 3.5 billion day, we saw mercyless dumping. Big packets, all day long. Surely there were some panik sells in there (from real investors), but for the majority of the shares, it did not make sense for the average investor to dump in the fashion as we witnessed.
Also the day before, there was huge buying pressure on the news, but something was holding us back.
It should be clear that "shorts covering" and "buyback" are no options here. Somehow these things always pop up when a stock goes down, but both things actually means: 'buying shares' and they would make the price go up instead of down.

So what was happening? It could be the CD that was dumped on us as suggested here, but I don't think there is a reason why this would be the case. CD should have been put on hold until 2009.
I think Sandy was dumping on us. Sandy needed money. He declared the conversion possibility and he didn't do that just for fun. He wanted people to convert. He did everything he could to make the price go up (all those PR's), but he probably underestimated the power of his own PFDs. So this week, the convertion period is almost over, Sandy checks his balance and sees that he didn't get wat he wanted; so he dumps a shitload of shares on the market.

Why sandy needs the money is an open question. Certainly with the news of this week it doesn't seem to make sense (or was the news just a pump PR so that he could find buyers for the billions?, it is not very concrete in any way, so maybe...).
But he did need money. Also the 504 proves that. The 15 billion current O/S proves that. (makes sense: heavy selling already started a week ago).
And don't believe Sandy if he says that
- he doesn't know how much was converted until now
- he says 15 billion was just an estimate.

Anyway, if we get a PR next week saying BKMP received 100 million in cash for the sale of TFN, it all doesn't matter anymore...