Where do all those shares come from? Phantom shares. IMO mostly naked shorts with a DD backed guarantee that they will be able to cover at lower prices. If it comes very ugly, you will face another SeriesB warrant cathastrophy.
Some shenenigans are being played here against the holders of the common shares. There is no mathematical possibility to have 4-6 times the whole OS traded in one day. There is a scam being played right before our eyes,
Whére do all these shares come from. IMO some did not convert and the OS is much bigger. It stinks like rotten fish and for sure looks like a scam.
Now you might think that if an insider would like to sell such a huge chunk into the market, the price would dive bigtime? But no, the price surges over 20% before the order executes. I must admit that this is a very peculiar behaviour.
off course, there are developments. Preparing the next offering to fleece existing holders once again...
Well you have been spot on-like myself. I predicted the 700mio figure in august!!! Fool me once... Dilutive financing will be upon you again within the next 3-6months and you will be hosed again folks.
Remember Genta? The same situation. THE REMAINING OPTIONS CONVERSION TERMS WERE NOT SUBJECT TO ANY RS.
If after the 100 to 1 split aka 7mio shares OS would leave B-Warrant holders with a whopping 30mio free shares this would kill you again with another immediate 500%+ dilution. Take care caus there are a lot of corporate criminals out there.
This will go down down and lower. Why because the favorable terms will be for those providing new money. IMO there will be again some B series warrants with a cashless exercise provision. This is like cancer for existing stockholder.
Some of you because you are pumping this criminal entity in order to steal peoples money. The other who fall for the lies and the deception. And I am too, because I tryed to warn you all along about this dilutive scam. Imagine this last act in the drama. Shares handed out at a discount of 90% from initial offering price plus the same amount in Dollar that was initially raised by issuing the warrants. Crazy world isnt it!
Lets review: its a scam.
Most here will be in denial while their losses rise. The relatively new scam that is perpetuated on shareholders is the cashless warrant conversion. The lower the price goes the more shares the holder of the warrants gets. So the short selling alternates with conversions to cover the short position at a huge gain. Al Capone would have loved to see these days.
The shares issued were sold short pre-offering into the run. Remain the warrants. Those have a cashless exercise option. Aka: the lower the price the more shares have to be issued to the buyer of the warrants. In order to maximise their gains, they keep shorting to end with a large sum of your money in their pockets. Al Capone would have loved to see these days. Stealing has been legalized.