Dear IMESers,
Thought I might add a little insight. I "strongly" believe that there is only one reason that the stock price is going down lately. The company is flat broke. They have run out of money since the last private placement they did to raise the much needed money. If you would do your research, they company who was to participate in the 25 million dollar secondary offering is either out of business or on the verge. This has been the main delay in the secondary offering. The company has had to go out and find another company to perform the secondary offering. I have also been approached, not directly by the company, about participating in another private placement for a quick infusion of cash. This delay in the 25 million dollar secondary is putting a real bind on the company.
I also believe that the company is way undervalued, but until they show continuous promising news the shorts and market makers will continue to have a field day with this penny stock. If any of you have ever heard of a short squeeze, you know it can be extremely rewarding if you are on the long side of a stock. One thing that does bother me is that no SEC filings have been made to show that anyone on the board, or active officers, are taking advantage of these extremely low prices and buying up shares.
Word has it that more news releases are soon to follow, but I don't believe anything about this company until I read it myself.
Disgruntled shareholder,
Wayne Anderson |
