Some may have been concerned by the first trade today at .12 But it was a large pre-arranged cross, as was the remaining trades at .14 You can tell because the bid/ask didn't change, but all a sudden wham, 30,000 shares would go thru in between.
This is positioning by friends/insiders of the company. I think the insiders are finding interested investors, and selling large blocks at a pre-arranged price. The insiders are then filling their boots with the convertible preferred and/or private placement. I don't know for sure, and I don't like it, but all companies do it. All of us had the opportunity to buy the private placement previously, so I guess we can't complain too loudly.
I think this will continue for the next little bit, large crosses in this price range. Once this accumulation is complete, the real action will start, and the price will shoot upward. I don't know where they are in the financing, this could happen next week or tomorrow. I'm not sure there will be any clue as to when it will happen, so I suggest you get positioned now.
Things are definitely getting warm.
Ted |
