Good questions! As far as the $1 price by EOY...who knows.
From a fundamentals perspective, its possible as their appraisals and deals would support that number, but it doesnt seem likely. If anything could have driven it up to $1.00 I think it would have been the mitigation bank approval. That created a few buyers in the $0.06's and $0.07's, but there was no real improvement in volume. I dont know how they could top the mitigation bank approval as far as a catalyst event. DTC eligibility wont add much value unless they can clear the issues with Scottrade and other brokers, but even if that doubled volume, I still dont see that helping too much. QX could help, but its a big IF and question mark if that will happen. Q4 financials are due in 1-2 months but, historically those havent done much for us.
From a purely technical perspective, $1 seems to have more potential. This stock is incredibly thin with 81% of the float held by management. Say someone were to come in and make a large investment of say $20-30k they could buy up most of the cheap shares on the ask and set their own price, easily running it up to $0.30+ at least. That doesn't give you any buyers though, and increases the spread (image in a $0.05 bid and $1.00 ask), but this could possibly create momentum and price increase in the stock that sets off enough alerts that people take notice and jump in. The problem with that is that most momo players will jump out right away. Maybe some would stay and keep playing. Im actually surprised more people arent just using this as a technical trade and running the price up by taking out the ask.
IMO, the reason it was dropped from $1.00 is pretty much answered above. First, Idk how the company got $1.00 as a entry price on the OTC markets the first few days of trading, but given the thin float + low volume it was very easy for someone to manipulate that price down with a bit of money the same way it could be manipulated back up.
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