Look at the historical closing prices this month so far. The stock began December at $.40 and went down to closing price of $.29 this past Friday, without one day of relief. And the ask is still creeping lower. I don't see any bottom until we get some up-ticks. It's hard to tell at what price the sellers will stop depressing the stock. Of course the natural bottom would be $.09, which is the floor that the insiders put undermeath the stock when they bought out CVC. So we know the insiders see value at $.09, but how about at $.29? Who knows? I don't see any insiders buying at this level. All we know is that $.09 is still a long way from $.29.
Congratulations to investors, you finally got the first up-day in December (12/26/13). The stock closed up, a whole whopping penny! But it was a short-lived victory, as another seller slapped over 20k shares on the ask at $0.25 in the afternoon, and thus threatening to close the stock red. But luckily, no one was buying at the ask, and so investors were able to squeek out a positive close on the day. It's pretty sad when even the one and only up-day in a month is not fully justified. Good grief. No end in sight.
Well here we are, three months later, and the sellers are still slapping 20k shares on the ask in the afternoon. This time at $0.24 instead of $0.25 like back in December. Not much has changed. PIPE investors are still unloading their cheap shares slowly, hoping that nobody notices they took the stock down from the $0.40's to the $0.20's in past few months.