Guys, let's not discuss the messengers but the messages.
Once and for all: We are in this mess because we were too curious to stay away. We have all bet on the premise that Dr Stemm's ideas work, not that IMMM is a particularly interesting company per se.
So, what do we know right now.
1. The Topper deal seems to be off.
Q: Why? IMMM cancelled, not Topper? IMMM don't want to/cannot afford/has no capacity?
2. First well supposed to be finished.
Q: Results? If it was a failure, would they continue with a second?
Amateurish question, having seen too many gushers on TV: Wouldn't drilling through an oil containing layer show up in the mud?
The scans showed the interesting zone to be at about 3600 ft.
They must have passed that zone a long time ago. They must be able to give some preliminary statement.
Q: This complete silence, is that a good or bad sign? For a dry well, is there a waiting time to analyse anything?
3. Stock
The stock price can easily be, and probably has been, manipulated.
The spread has been ridiculous, around 50%-100%. At least the MMs can make money if there is some volume.
Price without volume is not very important. These last days there has been some volume, and it seems to me that there has been more buying than selling.
Q: What does it mean when the MMs signal by raising or lowering all prices by a factor 10? This affects who is at the Ask/Bid, so it can be used to let some MM through to the top without disturbing the real Ask/Bid. I have seen that happen for IMMM a few times.
3. Short selling.
Short selling would imply that there are lots of stock to be bought if the price keeps getting up. With positive news, this could be a positive factor.
I personally think that about a million or so shares have been sold, in order to convert shares to cash at any cost.
Q: Who sold? IMMM to raise money to finish the drillings?
Insiders not believing in the drilling results?
Some party intentionally trying to force the stock to tabnk, in order to pick up a bundle when there is positive news?
4. IMMM policies.
Pulling the Topper release from the webpage without any comments is bad practice.
Just blaming shorters for the drop is ridiculous, when we all know that what's missing is NEWS.
A simple thing like putting expected times, when there will be news about the drillings, on the webpage, is not too much to ask IMO.
Q: Did anybody on their emailing news list ever got an email?
What can be done to make the IMMM people to respect that they are a public company with duties to their shareholders?
To whatever we or IMMM may dig out,
ps |
