Bob,
Got a little more detail about the present situation from vteh. Some guy who has been living high since selling his business put his money in the stock market a few years ago. As he experienced much success in the market, he began to assume that nothing could go wrong and put a great deal of his portfolio at risk by margining it. This worked fine for him for a couple of years, but the recent downturn has caught him big time. He is now selling everything to cover his margin calls since the "tumble" started. Word is that he's even got his house for sale now.
The brokerage house that his account is part of is trying their darnest to rid as much as possible as fast as possible primarily to cover their own asses. vteh even had a verbal agreement from this firm this week that they would limit their offering of vteh stock to 80,000 shares per day. But, as soon as the telephone call was over, this firm unloaded everything. So, part of this whole thing is about 365,000 vteh shares from this guy hitting the market all at once to be sold for anything they can get.
This guy has a couple of friends, also previously loaded with vteh, that are also part of all this vteh dive. I don't know how much vteh they contributed to this - nor does vteh. But it is said to be significant.
vteh insiders are said to have bought quite a bit starting at the three level and now are kicking themselves for not having cash available to buy now. At least one insider is said to have bought a couple million dollars worth. The european investors are also buying.
At late afternoon today, there were about 200,000 shares left. vteh hopes that all these shares will be gone by the end of the week and that things will then start to move back to the norm. They are hoping for 5 by the end of next week if all this available stock clears out this week and investor confidence comes back a bit.
vteh is 200% positive that the stock will rebound and that their operational and financial strategy are still valid and executable. We asked if they were 100% positive about this - they said 200%. They are extremely confident and actually think this is a great opportunity for the small investor.
Personally, if they were generating operational revenue right now, I'd buy in a heartbeat. Since the system is still not officially turned on, it just plain speculation - the gut wrenching type.
But, I'll probably buy a lot tomorrow to average down unless I hear that Bre-X is less risky in getting to the 20's than vteh to the mid teens (that's suppose to be funny).
Don |
