Looks like Honig's plan to pump the stock to the secondary price offering isn't working. People are wising up. Guess Honig will have to try another tactic... Like yet another reverse split (and then another secondary offering).
From Accesswire's own site -
"Joining the Accesswire News Network could not be easier.
With our platform, you can submit your press releases with photos and or multimedia via our proprietary Accesswire News Network, which reaches journalists, online brokerages, media houses, investors, web sites, search engines, and many other targeted audiences.
Ask our team today, how you can extend your news reach!"
So yeah, Majesco paid for the press releases.
They paid for stock pump articles to get the share price up to about $1 and then announce an offering for $1.5M worth of stock, causing more dilution for the common shareholder. Classic!
Down 70% from the 52 week high and only 11 cents away from the 52 week low (which was hit 3 weeks ago). Yes, very impressive....
Being under a buck for a while will get the SEC on your case. But since this is Majesco and they diluted the heck out of the common shareholder, they can just do ANOTHER reverse split to get back in compliance. Then maybe another dividend to line their pockets, then another reverse split....
It's the new game from Majesco, it's called Wall Street Suckers. The object of the game is to see how long you can not see what management is doing to your shares. The German has the high score right now.