IRAC
Shares Outstanding 1,008,000
CEO holds 700,000 shs (restricted) which means he falls under 144 and can
only sell 1% of outstanding every 90 days. That comes to 10,000 shares. So in
my opinion, he is not looking to dump. If he was, he would have been better
off selling 100k every 90 days before the reverse.
The float as per transfer agent is 300,000 shares.
On the ragingbull message board, there is a share count that makes us own
410,000 shares. And that is only a dozen investors. What about the rest of
the shareholders? The people who do not post on RagingBull. I am sure there
are way more than 12 people who hold shares.
The more I look at this, the more positive I get. You all know I think the
CEO is an asshole, but after venting, like I stated earlier, I was open
minded.
This company went public in June 2001. They did not do a reverse merger into
a shell, they filed a for 10sb12 with the s.e.c., and were cleared with
symbol to trade. That is not something you see happening too often. The
filing was done very well I have to say. So in my opinion, these folks are
not rookies. They know what they are doing as far as being public is
concerned. The CEO may be a scientist, but his advisors are sharp.
Now, from what I have heard from many contacts today, the company had planned
to do the reverse for a while, in spite of mentioning a possible forward
split back in July. From what I heard, they were very upset with the way NITE
was manipulating the stock, and decided that the best way to fix that would
be to consolidate. Maybe the forward split they mentioned was done purposely
to make the market makers think they would have a field day? This I can see,
would make any Market maker sell millions of shares. Look at every company
that does a forward split. If they do a 10-1 forward at .10 cents and it is
.01 cents after the split, the market makers usually beat it down to .001
soon afterwards. I cant find one OTC stock that did a f/s and is trading near
the pre split price now. NONE OF THEM ARE!
Also, if you read the message boards over the last few months, everyone was
looking for a forward split, and I think that the increase in volume over the
last month may have caused the market makers to believe one was coming also.
This is what I believe made them short millions of shares. Look at the trades
this week. There were trades going off of 1.8 million at the bid, 500,000 at
the bid, and all of this time, the transfer agent claims that 1 million
shares were outstanding. They were selling shares that they could not
possibly have had. There is no way on earth! And the proof that they shorted
is in looking at the filings. The company never issued more shares, and
believe me, they have to file if the issue one share. It didn't come from the
company, and it didn't come from any shareholder. The amount the stock traded
was 10 times what was issued this week. What we may have wound up with
through this entire mess is a very huge short squeeze. I am not saying this
to try to mislead any of you, but I am damn good at researching, and I cannot
account for all of the stock that we had this week. Nobody else that I know
can either. If this is true, and this company decides to issue a press
release announcing a Merger, or anything positive, you will see the
consequences of shorting a stock with 1 million shares outstanding. Folks, I
don't know and I am speculating here, but if all of this is true, we can make
a fortune! It all depends on what the company is really doing behind the
doors. Again, I am being open minded here, and everything mentioned here
makes a hell of a lot of sense. I may think the CEO is an asshole, but like I
said, this company went public without doing a reverse into a shell. Only
sharp individuals that know the business can make this happen.
If you use level 2, you will see that the offers on this tell a story. We
have one @ .15, one @ .17 one @ .20 then one @ .55, one @ .75 One @ $1.00
etc.
In my opinion, if news comes and people like it, they are all going to run,
and run hard. If we can get order flow here, we will all have a Merry
Christmas! |
