Was not a pump and dump. With the sale of gridsense and a portion of DSIT, the stock should be between .40 - .50 a share. Implied value plus erasure of short term debt. No idea why it crashed back down. Wish we could see the names of the sellers yesterday. Would explain alot if we could.
Keep in mind volume wasn't "high". It was compared to average but not compared to float. 27m float.
That makes sense. All those new shares to purchase another company. I hope they sell omni as well. I liked gridsense more than omni and would have preferred to see them go first, but this is a start to movement. They need the share price to move considerably before they can use it to buy something though. Let's see what they come up with!
Did you even understand my post? You are focused on APPROXIMATE numbers about my loss? I am not down EXACTLY 70k at this point. It varies day to day between movement of pennies. I made my first purchases when it was around 3.50 a share and have added at various points during the decline. I would not lose EXACTLY 80k either. The point is I am not getting out as there is no point. A loss is a loss and there is still a chance for it to go up. When I first bought I saw an opportunity for this to be around 10 a share with a 22M float. They still had USSI.
I am digressing. The point of my post (which seems lost on you) is they AUTHORIZED new shares to 42M. They did not ISSUE new shares and you can't buy 15 million of them. They are not for sale. Why would they do that? I was looking for other ideas and instead I get a troll.
I would not recommend anyone to buy this stock. This company has a real possibility of going bankrupt. Anyone not recognizing that is fooling themselves.
There is still a chance it could go up, but it is small at this point. There is no financial reason to invest in this company at this point. It is a pure GAMBLE.
I am just repeating myself though. Slow down and try reading comprehension instead of focusing on unimportant things. Nothing you said responded to the MAIN point of my post at all.
I have been trying to figure out why they authorized these shares.
My first thought was to prevent a buyout, but there are enough outstanding shares to gain majority control of this company if someone was so inclined.
They might expect a bump a price in the next year and are positioning for that as well.
I am trying to put myself in their shoes and why I would authorize more shares and none of them are good for the retail investor (AKA: us). The thing I fear the most is they are going to issue some preferred stock if a bump comes along. The retail investor ends up paying for it. Not good.
I have marked this a strong sell for anyone thinking of buying. I am stuck. If I sell now, I lose 70k and if it goes to 0 I lose 80k. Not much difference.
If you can get out, I would recommend to do so. If you are thinking of buying. Don't. The numbers are looking bad. This is a pure gamble at this point.
They sold a huge portion of their only good company. All we can hope for is a government push to upgrade the electrical utility infrastructure in the country. They do that, then your gamble pays off.
It is not met with eagerness because of retained earnings. It is the amount the of money the company has made (or lack of) over the course of it's existence. The last balance sheet showed 86.5 million in LOSS over the course of it's life. The capital surplus (little further down the page) is a just a #$%$ number (my opinion). It does not represent real value. It's counting our own money. The common stock is the real value of our shares as it should increase with retained earnings. 272k is the current value. Around 27 million shares that would be worth 272k if the company went bankrupt. That is all we are guaranteed.
They have to generate a profit at this point. Not news. Not partnerships. Not new management. Profit, pure and simple.