EcoMike - IRT your statement "makes one wonder why the stock is so cheap" the answer is simple ... manipulation by Golden Gate, LLC so they can convert their debenture balance as close to .15 cents as possible. Many a price action over the last couple months backs this reality up.
As mentioned in an earlier post (#2227 of Sep 23)..... The June 30, 2010 quarterly (10Q) noted a couple amendments to the debenture agreement with Golden Gate, LLC. One amendment was an increase of the minimum conversion price to 15 cents. Not sure of the conversion formula, but it is quite common to base it on the 20 day moving average at a 25-35 percent discount which means that @.22 cents with a 30 percent discount, the conversion would be very close to the .15 minimum.
During the last 6-8 weeks (while REG SHO has reported a high percentage of the daily volume as short), I have submitted a number of different BUY orders at the ask or a little higher and it gets filled below the ask. Now if the entity shorting was solely interested in profiting from a short position, they would jump all over my "Buy Offer" at the ask or higher. But time after time my order was filled down below the ask (good for me not the entity selling short).
Also, it is very common for the Golden Gate's of the world to have a desk (within a market maker) capable of manipulating the bid/ask to advantage a long time (many a previous deal) client. Clearly, TTEG's share price has seen many an odd bid/ask spread and price action the last couple months.
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