Some people can't understand itSome people refuse to.
Some people can't see what the CEO and his yes men and woman have done.
There are now about 4 million warrants that are in the money when the stock is over 75 cents.
The 30-day average volume is 77,000 shares.
Not DTC, but sort of.
DTC means "days to cover" and refers to short interest vs avg trading volumes.
I digress.
It's fair to say that the vast majority here have losses on paper.
That's why you still own it.
The loss is only "on paper.
Here's an interesting FACT.
Almost 700,000 warrants that expire in less than one month were arbitrarilly reassigned a 75 cent excecise price down from $1.75.
(i) 697,500 Warrants have currently an exercise price of $1.75 and expire on October 19, 2024
My point is this.
These outstanding warrants were part of unit offerings.
They were added to financings as Freebies.
" Here. This will let you buy more shares whenever you want for 75 cents!"
There are 4 million of them.
Here it is in a nutshell.
I repeat myself from my post July 23rd when the news came out.
This is a force-fed financing.
Anything to avoid a prospectus.
4 million overhead.
This stock will never close higher than 85 cents again.