Maritime Resources Corp V.MAE

The Penny sellers

[nozzpack]

At 4.5 cents, there are 18 sell orders which combined amount to 837,000 shares ....about $45,000 in total share value .

The average sell order is $2500 or so.

Nothing wrong with mom or pop or other penny traders buying a few shares at 3 cents and selling at 4.5 cents , eking out $750 or so .
However , it does illustrate that penny stocks can trade at prices unrelated to fundamentals because they are cheap to buy .

Its been my view here that we need to consolidate our shares on a 1 for 5 or so .
This will remove the drag of penny traders and more align the share price with fundamental value.

Firefly did a 1 for 15 and its market cap went up...

[shiftyone]

I agree a consolidation would in the long term be beneficial if the company actual does go forward.  Because the day traders can easily kill any momentum when they can make 10% on a half cent price differential. I'd wouldn't mind even a 10 for 1 to get this to a price where people will look at it more seriously. Historically, consolidations have not been favourable to shareholders

[nozzpack]

They have $250,000 in cash coming from Shoreline and perhaps another $500,000 from final farming of the Pine mill fines . Maybe $5 m from the Abitibi property and those 97 m warrants . Maybe Mac will have some substantial disclosures for PDAC and the other Conference . Less than $5000 traded today . The USD is in deep trouble . POG will do well . Just one biggie NR to blow us through 7 cents ..

[shiftyone]

They have been trying to sell the abitibi property for years.... maybe a buyer will surface.