They Keep Pumping - But Nobody is Buying The put out a press release yesterday saying that they have cancelled a lawsuit and had a lawsuit against Zonetail cancelled as well. Cool.
We all know that the "management services" agreement and subsequent lawsuit with Belgravia were only paper churn to make it look like this "comapny" was actually a real, operating business; not surprisingly nobody RUSHED in to buy shares because nobody believes this is a real company. They are playing a 1999 game but its 2024.
I reckon 94% of shares are held by 10-15 accounts - and I reckon at least a couple of these accounts are overseen by the same person. Hypothetical - sic - of course - but demonstrated by trading levels or lack there of.
An illiquid, insider held company, with no revenues and a poor busines plan (compete against Airbnb on rentals, INterac on payments and Yelp on neighbourhood services) has no business being a public company. Attemps to make it liquid - actually see trading taking place - have fallen flat. Nobody is buying this story or has faith on operatoinal execution.
I woudl tell yuo to think twice, but nobody serious is thinking about buying anyhow. Grandmas or Tony Sopranno lost interest a year and a half ago.
Till the next news release