OK, I am in. Got a fill today between 3 7/16 and 3 9/16. The ask moved up an 1/8 on my buying, which is a good sign.
I have to agree with Mr.Skipard on the timing issue. If anyone is planning to play BLTI now seems to be a perfect time to do it (assumming the whole market does not crash in the near future which is a distinct possibility, but then you are not safe being in any stock).
RE: the charts - yes, a lot of people have placed their bets ( somewhere between $20 and $.6 in the past few years and some of them are still waiting for something to happen. Factoring in that now WE KNOW the remaining waiting time is just 6 to 12 months, $3.50 a share does seem like a reasonable price for placing a bet that late in the game.
Also, my mind keeps going back to the most recent $2.75/share conversion by the CT investment advisory firm. Unless I am missing something, they have originally purchased convertible warrants which they DID NOT HAVE to exercise that early. (99 out of 100 have been converted rather quickly.) The conversion terms were giving them at least a couple of years to convert, @ 80% of the trading average, with a cap of $5 and change. They must have had a lot of confidence that BLTI would go up rather soon, otherwise why convert so early ?
I am very happy to see some detail on insider purchases - may be I have to find a better insider trading search engine. Also the stock was recently driven to over $5.5 on a hefty volume and it went back to $3 on much lower volume - someone has recently loaded up on it, did not mind paying over $5 and is still holding it.
To sum it up, as far as charts go, it does look good.
"FlavorFlow is on a back burner" - then why do they waste space in their SEC filing to mention plans to start packaging and launch 2nd quarter 97'. I would also tend to think that they must have their resources ( financial and human ) tied up with FDA, clinical trials, Germany (other countries ? ) and LaserBrush. Strange...
BTW, senior management trips abroad have been mentioned ( Jakarta ?!?), any word from them of what is the potential outside Germany and US ?
Erik, is it possible to ask Mr.Skipard to join our discussion (it does seem to be in his personal interest to enhance BLTI publicity, and SI may be not a bad place to do it ).
I refrain from sending my questions directly to his AOL address, since I'd rather SI members see my questions along with his response.
Vadim. |
