Replies to post #3359 on Ingen Technologies Inc (IGNT)

[dlewisfl]

grizzy: that's some theory.

The company was shorting their own shares and used a R/S to cover? I've heard some great conspiracy theories over the years, that one ranks right up there. I might buy into it if they had no products, no revenues and no real chance of having either of these things in the near future; but that's not the case.

How's about they did the R/S because they sold 99% of their A/S which eliminated the option of selling shares?!?!? There's a reason companies go public: sell shares to raise money. That option was gone when they unloaded the remainder of their A/S in July to Hope Capital and Xcel Associates. Since you say you expect furhter dilution, it makes more sense they did the R/S in order to do just that, sell more shares.

[serfdom]

Grizzy.........

...it is my opinion that the stock was on the SHO list because Ingen was short selling it themselves, and used the R/S (and the way it was released) to allow themselves a cheap position covering.

Yes, and the R/S also allows them to repeat the entire process all over again. Plenty of headroom now for minting new shares, IMO.