Who is bidding over 16 cents for this stock right now?Why would you bid any more than 16 cents for this stock right now? For that matter why would you bid any more than 11 cents right now? You know that you are just handing your money over to the private placement holders who are getting out of their 11 cent holdings from the last private placement of 27.8 million shares at 11 cents right?
And now the company has just announced on Aug 5th another private placement of up to 8750000 shares at 16 cents yet people are still bidding above 16 cents. Makes no sense unless you like just giving money away to other people.