Stephen, I agree with much of your post, but I want to clarify one item. The 115% conversion calculation is $5 x 1.15 = $5.75 for the additional shares at the lowest 4 closing prices over the 20 day period. This example assumes $5.
I confirmed this with GMGC. Also, it helps explain the large sell volumes, in addition to shorts, that have occurred over the last few weeks (though certainly not this week!) after decent upticks. I feel that a general consensus exists that the current malaise is contributed to by the existing financing situation.
Obviously, big news would help. But we still need to clear out the inventory of sell orders which will continue to be created by the current financing structure before moving to a more permanent higher ground, imho.
Revenue projections and more details on current deals would be nice too. I don't anticipate either in the near term, though. The company is haunted by past failings, and is punished because of them as well, even though it was an entirely different cast of characters. They seem to be very conservative, as may be necessary to establish a longer term credibility.
As is no secret, I think they are doing the right thing for the long term. It can be frustrating though!
Best wishes to all believers in the magic.
Seconds Out. |
