"Dan" made it work for a time because he was an unknown with no track record; they took a dormant shell with little to no overhang, and coupled it to a pretend "lock up" on the share structure--and the traders bought it. However, going forward, there are still the same floorless convertibles being churned by the same players.
Looks like there will be another "Dan" to lead investors to the promised land. However, that storyline will be hard to duplicate with the same degree of success.
But, hey, it is the world of pink, where anything can happen! I thought there would be an orchestrated pump by now, with the increase in the AS, and there's about 2.5B shares for them to play with...
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