I think a great deal of selling pressure has occurred because of the mire that Seven Arts Entertainment is currently in with the CEO headed to court--possibly jail. As with any investigation, there may be skeletons found in the closet--and that can spook investors. Since Michery was CEO and a consultant, the risk is always there. Thus, PMCM becomes a high risk trade with at least a six month time frame. Since the stock has few investors and mostly traders, they are exiting and will return if Mr. Michery emerges unscathed by the whole affair.
Thus, and this is absolute pure and utter speculation, heading into the medical marijuana leasing business acts a hedge against stock price loss. And, I happen to think it is an effective enough for me to pick up a million or so shares if it heads down to .0010. At that price, the potential reward overshadows my risk. In the scheme of things, 10 nights out for family dinners can be sacrificed for the hope that the stock soars with irrational exuberance like other THC stocks.
Maybe--like joetm purports--the whole thing is a scam--but, I don't think so. I think the CEO with his recent hiring of Corso as CFO--a PCAOB Accountant-- cries out for legitimacy--and, of course, Alan Bailey is old enough and rich enough to know better to enter the sinking quicksand of pump and dump scheme.
I think what they are attempting to do is to position themselves for private financing to ease dilution and to get out from under toxic financiers--who will, incidentally, benefit greatly from a strong company.
The stars will either align or they will not--but if we thrive, many of us will reap great financial gains.
All IMHO--and good luck to all--flippers, shorts, and longs.
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