RE:earningsI started investing in zena early nov,19. first purchase .19 and within a few weeks it had risen to .26(nov,28), on the same day they announced 140 mil shares sold @ .15. Boom the shares drop.
In April they added 10,750,000 in debt but only got 7mil of it, the cost of borrowing was 3,750,000 plus 14% plus royalites!!!!!!
In June the shares had risen a little to .15-.16 and surprise a offering, 160mil shares @ .13, boom again the shares drop(.08)
Do these seem like things a solid company would do? I'd say more like a extremely desparate company. Deluting at a discount time after time.
I realize that companies sign their death warrant if they miss a debt payment but all the pumpers seem to have forgotten these transactions or the new ones here haven't done any dd.
Zena is trending up, the technicals are favorable, we are approaching some resistance levels that could start a rally. Earnings are coming up any day(maybe even tomorrow) and will hopefully be good, likely 30mil plus
BUT earnings are not cash to pay debt with
7 million due dec,31(+14%, +.25%royalty,plus plus plus whatever else they owe)
Guys on here bashing have been right WAY MORE OFTEN than the pumpers
Markets don't punish stocks because their doing awesome
I know I'll be taking profits and keeping a small position on the next pump