Posted On: 09/11/2013 2:55:08 PM
Post# of 36729
Re: on41greyst #6646
Once the shares have been converted, and the transfer agent clears the opinion and enters into the register, and the receiving broker clears them using DWAC, the shares are free to be sold on the open market.
From what I've seen with Asher on AEGY, most of the time they start dumping shares the second they clear. The question is if the open market can handle that many shares...and if not, then the result is what you've seen happen to SKTO since mid-May.
Look at the SKTO chart from mid-May, look at the initial drop after the May 15th conversion date where it was trading around 3 cents, and within a week afterwards, it was trading at 2 cents. Also look at the volume prior to mid-May vs immediately after.
From what I've seen with Asher on AEGY, most of the time they start dumping shares the second they clear. The question is if the open market can handle that many shares...and if not, then the result is what you've seen happen to SKTO since mid-May.
Look at the SKTO chart from mid-May, look at the initial drop after the May 15th conversion date where it was trading around 3 cents, and within a week afterwards, it was trading at 2 cents. Also look at the volume prior to mid-May vs immediately after.
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