The market makers were keeping a very tiny bid/ask for the last week with no "trades" printed; a bid of 5,000 shares at 0.001 and an ask of 5,000 shares at 0.002. Then today they wipe away the puny 5,000 bid at 0.001 and then two seconds later make a "trade" of 280,000 shares at 0.0005, for a whopping $140. Ok, really?! LOL
It is quite apparent that the MMs are simply shuffling a tiny portion of their inventory of shares between each others accounts to create the illusion that there are longs here dumping under par value. Its a joke. It is quite clear that they have massive FTDs from all the naked short sales on the books, which is why the DTC globally locked this stock; to protect their participants from being forced to cover the failures for major losses. Time is their ally, their biggest hope is that time goes on and on and no one does anything about this global lock and the company eventually just dissapears so that the stock can get delisted and then all of those phantom shares can just be erased off of their internal books. The problem for them is that this company may wind up making a come back and eventually start operations back up. It is also a distinct possibility that at any time any large investor who is willing to commit a large amount of capital to the stock and has access to buy stock, could force the MM's hand by way of buying up all of the small amount of real shares in their inventory and then merely printing off a few trades at five or ten cents and then placing a very large bid at that price in order to keep the PPS supported. After 35 days went by, the SEC RegSHO rules for close-out obligations would kick in and the crony participants would be forced to close out their naked short positions. With no capital inflows into the stock the longs and the MMs are at a stalemate. The currently printed share price is a mirage, an illusion in order to instigate longs to finally capitulate and sell so the MMs can snap up cheap real shares to deliver to their clients accounts who bought on July 1 2011. The tactics going on in this stock have been the most blatant, crony and "unusual" activity I have ever witnessed in a PK stock. Any SEC official would have a field day investigating the actions of brokers and MMs in this stock, yet it has been over a year and a half with this illegal global lock by the DTC mafia and I suspect the SEC has a hand in it, otherwise the SEC would have mandated a force buy-in by now. Yet here we sit with the stock down from 0.02 to 0.0005 since the lock on roughly 1% of the float "traded" (ie.. MM share shuffling). How embarrasing, how embarrasing!
$SFIO!
