Ten Reasons Why You Should Have Sold Coin
I find the posts with the message that COIN is a fine stock which has suffered because of a bad market naïve in the extreme. Just look at the Red Flags you have tolerated to date:
1. Even in early PR’s COIN was hyperbolic using 500 TPD as the “permitted” capacity. Many bought in that that was the capacity being constructed.
2. From early days the COIN website has foretold being a leader in all segments of the fertilizer industry -- ag, lawn, garden. Pretty strong stuff for a company with no plant at the time.
3. Back in October/Nov 2007 they were promising a Woodbridge EBTA plant for spring of 2008 and even announcing two large customers -- one with an alleged 2100 ton order. It didn’t happen. Concrete wasn’t even poured for the tipping room floor till September 2008.
4. In January 2008, COIN out of the blue buys Gonzales and HTML at a garage sale price because the current owner is being forced to sell by regulators because he spiked it Biolizer products with in-organic fertilizer. In July, Gilea surprises you by for the first time saying Woodbridge will feature HTML. Much later (October) Gildea tells you that Gonzales is in the wrong place to get food waste and tipping fees.
6. In early 2008, ever inventive financially COIN declares a meaningless 5% stock dividend despite zero production and zero revenue.
7. Also in Spring 2008 with the share price still in the mid-teens, COIN again shows it financial acumen. Its discovered that the warrants have been incorrectly registered and cannot be converted. This situation continues for months.
8. In July, the first truck load of liquid food waste delivered PR’s start. They suggest the plant is open for production but its not. They do it again with solid food waste in Nov/Dec.
9. Let’s not forget the multitude of pure fluff PR’s over this time.
Good points, I see no one has posted a intelligent rebuttal. They've only posted insults which only shows their ignorance to those visiting the board who might be interested in COIN. I'm sure you've scared more then a few potential investors away with topic.