Most people holding now are the Long longs....the 2.00 and plus cost shareholders. Can't say I blame them...the NAZ had those Geo cartoons for months and did not see them as very compelling either. Lee has 7 million reasons to pray for LLEN to recover from his long history of blunders but I don't think Fong or anyone else is looking to be his neighbor. so one would think that if they came back with news that they could not recover from....it would have broken already......just saying....I am very tempted to add..... If the price is right....t have been playing the market for many years and in everyone of these stories like this where a stock goes from 10 bucks to 20 cents there are always those know it alls on the YMB saying it's over......sometimes their right and often times they are wrong.....this is a personal choice... But this one would be quite a comeback story. On those other boards the longs are long gone that I remember and I imagine the bashers were the first to go. GL Longs...
19.5M shares changed hands, those longs who wanted to sell sold, shorts who wanted to cover did as well....
and now we reached equilibrium, $0.60 +- few cents. There is simply not enough information to either
discard the company or strongly buy more.
The way I see it: if LLEN wants to file for BK they could have done so in a few hours. We had management visiting China, and they've been 4 days in US and no news, some are screaming...
Again, if the situation is hopeless BK would have been filed already.
If it is not BK, next thing could be some restatements of earning and restructuring plan. That does take time.
And lastly, if all is good, there will be personal announcements and ways to go forward.
LLEN is hiring, look at their web page. Why would a company that is fraud and wants to file for BK hire!?
Couldn't this so public fact be used against present management as deception and fraud in itself, if
indeed the company is a scam!?
I do not believe Fong & others want to go to jail and are making such stupid mistakes.
So, in short, at this point LLEN hold all cards in its hands.
And also, it is safe to say, Geo is now nothing more than a bunch of limo drivers turned clowns....0 credibility...