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Microcap & Penny Stocks : Eutro ( EUTO )
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To: Alan Markoff who wrote (1957)12/2/1997 7:10:00 PM
From: Playin my Cards  Read Replies (1) of 12043
 
Alan, I think that this excuse is lame on the part of the 4 companies...

"they know they made a mistake but were in fear the Eutro was going out of business when the stock was selling for sub pennies back on May, June Ect.... (Eutro proved otherwise based on there existing contracts and more to follow)

I am not sure about when the companies made the loan but I assume that it was when the price of the stock was near the "colateral" value of .0037; If that was the case, the stock was already at "Sub Pennies" which was less than 1/4% of the 52 week high at the time...ie a 99 3/4% drop in share price!.

It seems strange that they would put faith in a company (by giving the loan) when the stock price was so low, and then a short time later reconsider their investment when the stock fell a little. Unless, they planned to sell all the shares into the float, and then Naked short those same shares and hope for the company to fail. That way they could sell the same shares twice.

I think what may have happened was that they sold a bunch of shares when we ran up to 25 cents, then are now buying them back for a 100% profit. If this is the case, they are lucky but still broke their contract by putting the shares back into the float. Since our group seemed to buy about 10-20 Million shares during the run up, I am guessing that they probably sold about that many.

Anyways, I think the 4 companies are lieing through their teeth AND laughing all the way to the back if they sold for 25 cents and are now buying back (maybe from the shorters) for 10 cents.

Mike
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