can you name few cases that had similar turn around?
VELT is done at this stage- they have zero product, nothing. only thing they had- mobclix is for a sale and obviously no one is interested in buying. they run out of cash and further dilution is impossible- I mean at what 25 cents?? how much they could raise- I cant imagine who would buy? just look at the institutional investor who have bought in at 1.6$ few months ago- I think if you spoke to them for a minute now you would run away from velt and never look back.
For anyone interested in this play- stay away! I repeat: every single investor is in red at this stage- that is not and accident. This will end up as many companies before- chapter 11 and bankruptcy, stock will be halted for indefinite period of time with zero liquidity, but before that it will be delisted to some kind of pink sheet exchange and death downward spiral will be the ultimate sign that the end is near. buy hey, before all this happens- I suppose there will be one final short squeeze which will mark the ultimate end of this company- although I fear that squeeze has already happened few days ago.
but I completely understand the emotions of longs- most of them lost almost entire investment, so now they can easily justify holding it till a miracle happens, as they cant lose more so to speak. look at amrn- another thing that was led by emotions instead of common sense.
No the damage has been done. Would not make sense to raise more capital and keep trading on a regulated exchange. This is now considered a POS penny stock that will get the attention of the bums looking for that fraction of penny. Mgmt and everything associated with $VELT sucks. Those dirty Greeks are scratching their hairy butts wrapping their woods in lamb meat like a gyro and dippin it in some dirty Greek yogurt. While those bum penny stock pushers lick the dirty Greeks geish for a $0.25 raise and post on yahoo message boards. O Doyle rules.
Bail while you can. Next sell off next week. Down to $0.17 soon.