RE: Any idea who was dumping?Anonymous crossing to Anonymous. It goes from $.40 straight down to $.19, all crosses. Looks bad, but completely manipulated. As Peter had said, worst timing for the IPO. Almost all institutional, and a large number of them are in trouble. Clients excercise the redemptions and the funds must sell at any price to raise cash to pay the investors at their request. Doesn't reflect the company, but does provide smoke and mirrors perception of zero value.
I wouldn't worry too much about PHC. They've been around awhile (private) and have clients who depend on their shipments. No way they let PHC go under. At the very least, PHC gets an offer for par on cash-on-hand (still over $70 million), and a min. $.50 cents a share for current mining operation (coal reserves, equipment, scrubbers, transport) - over $1.00 p/share total. As it stands today, PHC's market cap is less than $30 million.