There are groups that are working together in cohoots to keep the stock at these levels so they can buy it cheap and trade it between the spread.
Currently the spread is 50 percent so there could be some very good money made if they can get longs to sell and then buy those up at .0002 and resell them at .0003.
Or the MMs have a huge undersupply of shares and are doing everything in there power to try to discredit EFGO so they can cover as many as possible as low as possible.
Sure the stock traded at .0001-.0002 but this doesnt mean they covered the shorts they were in. Why because if most of the shares are already owned by longs then what are they covering with even if the volume is big. If Ihub owns the majority of shares and are holding then there are no real shares to cover with.
MMs also profit huge through the spreads. So for every buyer and seller they match up they get whatever the spread is so its to the advantage of the MM to try to keep pinky stocks as low as possible if its in there power so they can make 50 percent off of each trade. As the stock goes higher the percentages decrease.
MMs also want to participate in the rise and fall of stocks and before this takes off they will find a way to reap the benefits of a huge run just as they made out on the downside.
Its all speculation but this is what my experience from talking to some transfer agents and CEOs.
By the way there are some huge hedgefunds in on this and they must have there own MMs or influences as I recently found out that another stock and I wont name it have found the source to some massive Shorting and its based in Switzerland.
Company is trying to come up with solutions to trap them and have consequences for them so the Hedgefunds are most definitely involved here.
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