Hey all, I've been invested in this company for a few years now. There's something that's been bugging me and I wonder if anyone has clarification.
Not too long ago, we were dealing with a huge ceiling at .30c where for months on end the company couldn't break beyond it. It was so long ago I nearly forgot about it, but last week's' volume brought that back with the brakes going on right around the same sp levels.
As I'm sure most of you have read, Chris Parry put out an article last March about that where he hypotheiszed it was the company's financiers trying to trap the company into taking out a raise with them. See below:
“...it fuels my suspicions that FIRE is being deliberately held down by someone who wants to offer Supreme financing, but wants to do so at a discounted conversion/share price.
“Hey, nice run. Why don’t we do a raise for you at $0.25?”
“What? $0.25? But we’re already at $0.30 and going higher..”
“Really? Going higher, are you? [stock caps at $0.30] Ready to do that raise yet?”
The above is most assuredly only my suspicions and not based on any knowledge of the situation proper, but it’s a carbon copy of a conversation had at another company I had a hand in bringing public recently, where a big public listing debut run took a wrench to the head from one of the financiers that got it there, which then shorted the company and bled out its shares for months, all the while suggesting a cheap raise through their brokerage would be a great thing.
It ought to be illegal, but it’s all too commonplace. Investors bark at the company for the poor stock performance and stop investing, the company tries to do the right thing but with no support, inevitably cedes to the manipulators, whereby investors yell at them for doing ‘sweet deals’.”
People have seemed confident that we're going up from here, and I really hope that's the case. I'm just wondering what evidence we have to suggest that whoever was causing that .30c ceiling has abandonned that strategy. I can't imagine a company like MMCAP would just walk away. It seems more realistic to me that they would just continue that same strategy and bleed them down again from .30c.
Please for the love of god correct me if I'm wrong. I want to be optimistic.