your post below,
i would agree with taking steps like the new cusip if that would blow out the shorting and maybe hit them back and make it hurt. I agree that something should be done if that is responsible for this slide. I am wondering who in the management is aware of this, and what the plan is to do something about it. As shareholders we have the right to demand that it be done if that is what is needed to put things back on course. I believe that it is in the responsibility of the company to not only build their business, but to be stewards of the interests of their shareholders, and be aware of what is happening with the stock and take measures to safeguard its integrity, otherwise, what is the point.
Wakeme, naked short attacks are very common in the otcbb works, there are fewer rules and no really cares that much. many companies have complained about this for years..shorts have driven companies to pennies with their naked shorting..they dont even cover if it rallies, just keep shorting with worthless , naked shares. they try and find weak companies or ones they suspect are lying about the business and short them to death. they dont have to "borrow" from brokers or account to anyone..its the wild world of otcbb. they can double or triple the float of a company with naked shares. people think its longs selling but its not. one way companies try and stop it is to change their name and get a new cusip #, thats why I have mentioned this several times. then all legtimate stock is called in and phoney naked stock becomes worthless..they can however start all over again if they want. the best way would be to uplist and have more rules & regulations and stock accounting..just google naked shorting otcbb and you will see. its a huge problem, they can be offshore, overseas or other countries and not have to woory or be accountable.. free money.. i think it is happening here, thats why it just keeps getting hammered..endless shares for sale.
Just thinking outloud, and I have no idea if this could be done, and may be just crazy talk, but what if this company was merged into a shell, or a small operating company that was already trading on the nadsaq, or amex with new shares issued to existing shareholders, in order to get away from the ruthless crap on the otc?
That is similar to the way surfnet/modavox became public to begin with.
Wakeme..think illegal naked shorting, not normal shorting that MM do... otcbb is a very diff animal than what MM do with regular stocks..i have long thought that AUGT should prob merge with another company and do a stock exchange..if they did the shell like you asked, it would not solve their cashflow/dilution problem which looms large now and but would screwup the illgeal naked shorts..if they could get a few big contracts it would help a lot..they talk a lot about them but dont show any done deals..worrisome..they need a partner with cash, i think, to merge with..i am surprised no one in the co. has addressed the share price or given a shareholder letter to calm fears and boost confidence..that puzzels me... Hussey should address this to shareholders and talk about his plan to create shareholder value, immediately.