"Maybe not for the company but it is like a lifetime for a sub-penny stock that is steadily falling. A drop as little as .0001/day puts this into triple 0s by the end of next week. That'll be another 50% off from the current PPS."
Yes, that is something to worry about. At best, we may hear some encouraging news from the BK hearing October 20, maybe
coupled with coal production numbers, in a PR the week of October 20, but will the stock still be alive if it has fallen into the triple 0's first?
If you look at the current level II data, you will see that the would be buyers are readily adapting to declining PPS by
queueing up at ever lower bid prices. The would be sellers, however, are sort of digging in their heels at prices of .0025 and higher, holding out for better times. Does this mean that bid prices will be forced higher or ask prices forced lower? Maybe. Or, maybe there will be a standoff for two weeks, waiting for definitive news - good or bad - and that volume will really dry up in the interim. Remember, 20 million shares a day at .0020 is only $40,000, hardly lunch money for a Wall Street fat cat. At least we are too small to attract the attention of the big vultures!
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