Danial, you don't understand about reverse splits. When a stock is reverse split you have less shares at a higher price, and the Price Earnings ratio remains the same. Theoretically, nothing has happened, and one might think a stock selling at a higher price might be more attractive. However, when you have a stock with no earnings, a reverse split is a sign of weakness and fraud in my opinion. Usually the stock price falls from its new level and one is very much worse off than before. If LTGL reverse splits, kiss your investment goodbye. (Well, you might as well kiss it goodbye now, see below.)
In answer to somebody's question: Why am I bashing the stock if I wanted to sell at 4.7? Well, 4.7 is long gone, and I don't expect to ever see it again. I kept very quiet during the fall from 9 to 2 when everyone else was complaining about the constantly increasing issued and then authorized share quantity. On the other hand there were several misguided souls who kept saying, "Let's give Spencer a chance, they are selling product, look at the press releases!" Others would reply, "They have been promising audited figures for months. How long does it take an accountant to verify the sales?" When the stock got to 2, I figured there was no point in keeping quiet any longer. Let's get ALL the bad news out and see if LTGL can start over.
I went to the Reseda Pep Boys store as I promised. The same, dusty American Auto Accessories neon products were still there. The Manager was very busy, but I will talk to him next week when I go back to pick up some paint I ordered. Has anyone actually bought a LTGL product to see if it is not just an American Auto Accessories part in a different wrapper?
Every day one can read about a swindle. There are crooks everywhere. Many Securities firms are being charged by the SEC for massive fraud. In my opinion, based on the lack of honesty of those who said "no more dilution, audited figures by August xx," LTGL is a fraud and a swindle. In my opinion, all our money has gone primarily to pay the salaries of the employees. As long as the "greater fool" theory prevails, Spencer can sell stock, he doesn't care at what price, and pay himself and his wife on payday. I'll give the first person who can prove me wrong $100. Has anybody else filed a request for an investigation with the SEC?
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