I'm still on the sidelines. Need to see those Chin
Post# of 3844
Posted On: 06/03/2014 9:44:55 PM
Re: COPPERHEAD #3294
I'm still on the sidelines. Need to see those China #'s first!
Another reason to hold off any buying is because I think there will be a new round of dilution before this month is over. Remember this is the last month of the Q, so he needs to settle his payments to close his books for the Quarter. Not sure if noticed but he needed alot of $$$ to pay those Current Liabilities. I doubt that the dilution we saw in Q2 is sufficient to pay off $5.9 Mil.
The OS as of April 8, 2014 was 345,691,874 & as of May 9, 2014, there were 394,893,241. There wasn't much or any dilution in the first 2 weeks of April. He started selling just after the 10K was filed. So thats about 50 Mil. And he probably sold 30 mil more just after May 9, when he filed the Q1 report. But that combined won't cut it IMO. Roughly counted I think he sold 80 mil shares in Q2 & even if I calculate them at 0.015 that is 'only' $1.2 Mil raised... not enough to pay off $5.9 Mil right?!
Another reason to hold off any buying is because I think there will be a new round of dilution before this month is over. Remember this is the last month of the Q, so he needs to settle his payments to close his books for the Quarter. Not sure if noticed but he needed alot of $$$ to pay those Current Liabilities. I doubt that the dilution we saw in Q2 is sufficient to pay off $5.9 Mil.
The OS as of April 8, 2014 was 345,691,874 & as of May 9, 2014, there were 394,893,241. There wasn't much or any dilution in the first 2 weeks of April. He started selling just after the 10K was filed. So thats about 50 Mil. And he probably sold 30 mil more just after May 9, when he filed the Q1 report. But that combined won't cut it IMO. Roughly counted I think he sold 80 mil shares in Q2 & even if I calculate them at 0.015 that is 'only' $1.2 Mil raised... not enough to pay off $5.9 Mil right?!
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