You, Heymikey, from your comments, are obviously a
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Posted On: 04/11/2022 12:45:57 PM
You, Heymikey, from your comments, are obviously a Day Trader. I did the same thing 20 years ago. But what you didn’t emphasize is that when you go OTC fishing, all you really are concerned about is the prevailing winds of public perception that will affect the stock price. GameStop from last year is the perfect example. Not the smallest thing changed within the company, but boy did some people make a ton of money on the pump and dump rally. And even more lost a ton of money. All on a NYSE/NASDAQ traded company. Being on the OTC only means that the public perception of the stock value is under the $5 pps that is needed to stay listed on NASDAQ, etc. And yet you will find many OTC companies with a PPS above $5 who are staying on the OTC even though they can qualify for up-listing. Regardless of where the company is listed, it still needs to function properly to stay in business.
Now as to the Generex debacle.
On April 9, 2021 a judgment was issued against Generex. https://scholar.google.com/scholar_case?case=...p;as_vis=1
On April 9, 2021 the GNBT pps closed at $.276 https://finance.yahoo.com/quote/GNBT/history?...Close=true
On April 30, 2021 GNBT had 116.28 million share outstanding. https://ycharts.com/companies/GNBT/shares_outstanding
Present count is 122,058,444 outstanding shares. https://www.otcmarkets.com/stock/GNBT/security
On April 16, 2021 the Three Brothers Total Judgment = $4,595,899.24
$4,595,899.24 / $.276/share = 16,651,808.8 shares
Over the last year almost 6 million additional shares were sold to presumably to keep the company going (122,058,444 – 116,280,000).
It was not until June 7, 2021 that the pps dipped under $.25, more than 30 trading days.
Joe could have sold/added more outstanding shares to pay off the judgment, but instead did nothing and look what we have now, also NOTHING.
Being on the OTC had nothing to do with this catastrophic screw-up. It is all on the company management. And so now, as I view it, some sleaze weasel corporate raider types will slither in and gobble-up the spoils all shrouded in upstanding legality. Yes, legal maneuvers really suck for the little guy.
Now as to the Generex debacle.
On April 9, 2021 a judgment was issued against Generex. https://scholar.google.com/scholar_case?case=...p;as_vis=1
On April 9, 2021 the GNBT pps closed at $.276 https://finance.yahoo.com/quote/GNBT/history?...Close=true
On April 30, 2021 GNBT had 116.28 million share outstanding. https://ycharts.com/companies/GNBT/shares_outstanding
Present count is 122,058,444 outstanding shares. https://www.otcmarkets.com/stock/GNBT/security
On April 16, 2021 the Three Brothers Total Judgment = $4,595,899.24
$4,595,899.24 / $.276/share = 16,651,808.8 shares
Over the last year almost 6 million additional shares were sold to presumably to keep the company going (122,058,444 – 116,280,000).
It was not until June 7, 2021 that the pps dipped under $.25, more than 30 trading days.
Joe could have sold/added more outstanding shares to pay off the judgment, but instead did nothing and look what we have now, also NOTHING.
Being on the OTC had nothing to do with this catastrophic screw-up. It is all on the company management. And so now, as I view it, some sleaze weasel corporate raider types will slither in and gobble-up the spoils all shrouded in upstanding legality. Yes, legal maneuvers really suck for the little guy.
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