RE: RE: 43-101 overviewAatwal:
A couple good points. Let me start with the ones that I agree with. Yes, the OS count is going up and with it is the cash position of the company. The OS is going up because the MM is buying all his warrants, even the .75 ones privately. He is selling his shares on the open market publicly at much lower, so at a certain point, he has to see the stock price augment later this year.
So the cash position of the company is outstanding for more exploration, but naturally with Joe buying all those warrants (others too) that causes an increase in shares that we don't like. Double edged sword. Never gonna win on that issue with a start up that isn't making profits yet. Same thing everywhere on the Venture.
One point though that I have to disagree with. You said 'then why isn't the market looking at it the way we are?"
You added 'why aren't they lining up to buy?"
Aatwal, they did. They did line up to buy. They bought them up in bunches. They believed so much that we have traded the float, but there has just been too much supply on the market. A stock might look like no one is interested in it, if someone who isn't interested in it has more to sell than the public can buy. I think the market is looking at it exactly like we are, but they can't outlast the MM.
This isn't Apple. There are only so many people who can buy with only so much money, and that was not enough to have more than Joe to sell.
I'm such a broken record here, but when you see on the insider reports that he has changed the nature of some shares, that means he has sent them to pathway to become anonymous when he sells.
Today he sold at .29.
So yes, you can have people lining up to buy with great enthusiasm and who get discouraged and leave the line after a while when they see the price isn't moving up. Heck, when you line up for a concert and they say it is sold out, you don't keep lining up, you wait for the next concert.
So people are waiting on the sidelines to see if Joe is selling the next rally. If he is not, then I think the stock will rip so fast, you will be stunned.
I also think that super smart traders are staring at not just the seller but the buyer too. I have been seeing TD7 and anonymous as sellers for 5 months.
Interestingly, today TD7 bought the entire day, but anonymous had more and he sold the entire day. If I did not have a dollar in EFG, I would be staring at it all day long, and if I saw anonymous begin to buy in healthy numbers, I would follow that lead with every penny, because one day in the future, Joe needs this to be higher. Remember, he is buying all his 40 shares and his 75 warrants right now privately and selling his 20 shares and maybe still some 10 shares publicly. His average cost goes up soon and he needs the stock to move up with it. I just have no idea when that happens.