CODE RED (sorry - forgot to add line breaks)I knew it was time to sell yesterday (Tues). The high volume with little price movement means the mini-bull run is over and the price decline should start tomorrow. The market makers may try to hold the line or move it higher as a head fake, and to exit positions, but the drop will follow. I wish you luck if you read this and decide to stay long.
The facts:
On December 18, 2017: 53,724,000 shares with a VWAP = $0.045 are coming online and ready for sale at a tidy profit. This comes from 26,175,000 shares and 27,549,000 warrants.
On February 17, 2018: 51,579,356 shares with a VWAP = $0.08 are coming online and ready for sale at a tidy profit. This comes from 25,299,998 shares and 26,279,358 warrants.
This is massive dilution of 100,000,000+ shares! It doesn't take a genius to know where the new share price is going based on market cap calculations! lol
My understanding that another private placement is happening as I type that will result in another 33,333,333 shares coming online at a VWAP = $0.08. Half of this share volume will come from the exercisable warrants. The exercisable date of this placement will be announced after at closes. They will come online sometime after Feb 2018.
I personally chose not to support this massive payout starting next week and took my profit. I knew this was a momentum play because these guys have been bleeding cash like mad every quarter since they started like 4 years ago. These private placements are the only things keeping them alive.
Believe all the pumpers and hypers if you want, but I gave some of you a flashlight to see the exits when the lights go out. I might buy in again, but not unless it sinks to my price target. Rinse and repeat.