this story is reaching the end of the road, the odds now are long that Evsp is anything but a failure, if not a scam; but the price is so low that there are still buyers. Reminds me how bookmakers set the points spread to bring in the most betting and the mms are no different. They'll make money on every trade until there is nothing left to trade
Unless there is positive news that can be confirmed, the stock will be near sub penny by year end. Tax selling will make it happen.
What I can't figure out is why would mgt and the lawyer keep pumping and thus exposing themselves? Three possible answers. First, SEC or class action suits are rare with penny stocks, so there is no real exposure. Second,insiders are dumping to salvage whatever they can. Third,they are hanging on to the bitter end because they still hope to close on something before the end of the year. If it's door number three then it is worth a small bet with a very short fuse.
Why is it that every other post concerning this small pile winds up "praising" EVSP with such faint damnation?
The last time this company posted financials (which are supposedly being restated), it had something like $24,000 in cash and $8.8 MILLION in liabilities, some bearing 10% interest. The bank "overdraft" was more than twice the cash (presumably in another account). In some states, merely writing a bank overdraft is a misdemeanor.
That last balance sheet was 9/30/2009. The company's losses since are probably -- what -- another $1.5 million. Who knows? They won't say or they can't say.
At this point, buying this stock is almost like betting on how many times some mighty old fellow on his death bed is going to snort before he dies.
And anyone loaning this company money? Get out of here!
And why even do it? Ed says he got $200 million already "closed" -- five weeks ago. Right? R-i-g-h-t.