Great post Mike... One of my recommendations to the officer group was to reduce the O/S and restrict those shares for a period of 1 to 2 years. These shares could be stored at a later time for additional capital if needed. One of the issues I see with this company is that they have too many shares in the float. By reducing those shares they can create their own market from supply and demand assuming that they do launch their product.
IF there is naked shorting going on... a reduction of shares and a request by all shareholders to order their actual stock certificates instead of a virtual certificate may help in identifying a more accurate accounting on the number of shares. But again, I do believe we should get a fairly accurate number from the TA regarding this. I have been in penny stocks at these levels before and with a concertive effort our group of investors were able to force the MM's to push those values to as high as .05. Even to this day the stock remains in the .03 to .05 range after almost 7 months.
Great post. They claim the company has never received money for their traded shares because it is already in their pockets. that is why 99% of pinkies fail and all the officers of the shell get rich. Ron is a pro. Just read the financials from all of his former entities. It shows just that.
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