Jacksoo,
If you are in constant email contact, would you ask Dave the following please?
1.) Why did he decide to become the transfer agent for QTNT stock and
stop their service with OTC Stock Transfer, Inc.?
2.) What is the current number of Outstanding shares for QTNT?
3.) Ask him how many RESTRICTED shares of QTNT exist (if any)?
Look, if the outstanding # of shares is 8 million... and the float was all 8 million... we would still see a pop in the stock price with this recent volume. But this assumes Dave isn't diluting further...
so this number of Outstanding shares MUST BE ANSWERED.
Float is irrelevant at the moment.
What this means to me, and I've seen it before with DCTC:
the MM's are short if 8 million is where we are at.
DCTC wasn't this drastic of an example. But after two weeks of no price movement on buys, it just magically jumped up on very small buys to $2.25 from $1.43.
Unlike other stocks, a short squeeze could work on this stock by calling in shares, because the Outstanding # of shares is so low.
If there was an independent transfer agent, it would be the perfect squeeze, because we could check the OS on a daily basis.
Most other stocks where I've seen this tried, the OS was 15 million - 100 million. Too many shares.
Usually, traders don't rally about this type of strategy...but in theory, it would be very effective with a small OS.
-DavidCG |
