If it continued to be a shell, if there is a company in here then it could take off. Your view seems pretty pessimistic Art. I have seen this situation work both ways. Anyway guess it depends on your valuation of what they have behind the curtain once its all disclosed.
I do not believe that it is a shell,but just think about how they screwed us.If you had 500,000 shares and the stock doubled to .03c(it did not so long ago)you would be worth $15,000. At $6.00 this stock(worth 6K) would take years,if ever, to double.It does not make sense why they went so overboard.Who is going to pay this price when you can buy into a shipping co.for $6.00,with hundreds of millions in assets,and receive a 7% dividend.
I see your logic, and agree in part. I mean if the business plan is solid then the increase where it is would have been great, however if they have a solid partner coming in it will either hold or double. If they have no solid partner that will bring excitement then the share value erosion will begin. As I already said I thought it made more sense build value where they were and then do the reverse. Then again reading the last filing the prolonged share value is part of the basis of the 500/1. Its just a longer hold.