In an effort to show that I do not favor only one
Post# of 300
In an effort to show that I do not favor only one direction of the stock or the market I will say that with just over one hundred dollars worth of stock allegedly "trading" today and pushing the stock up 66.6% the move is meaningless. Just as a few dollars can push the stock down 40% in a day, the same dollars can push it back up. None of the action means anything right now so those who would use the percentage moves of the stock or the current spot price of the share price to prove their points is just fooling themselves. There is no market for this stock right now. No one knows what is going on with the company as we have not heard from management since about this time last year. No one knows the real reason for the DTC global lock, except the DTCC. There are basically no buyers for the stock and no sellers for the stock. The stock is "dead", the question is, is the company "dead"? No one really knows.
The status of the company is a big question mark. What we do know about the stock anyway, is that since the "unusual trading activity" took place on June 30 2011 and July 1 2011, there has been no FINRA Failure to Deliver report whatsoever. What we do know is that roughly half of the float traded on July 1 2011 and historically the largest volume days before then occurred a bit over a month before that date with roughly 125M shares daily and the pps was above 2 cents; about a quarter of the O/S. Along with those rather large intraday volume trading days, the FTDs (failures) were typically rather large as well, corresponding to the large volume. Are we to believe that on the day trading the largest volume ever in the history of the stock, (half the float on July 1 2011), the same day the stock was put on a global lock, that there were zero failures?!
Me thinks that is a rather large leap of faith. The other fact we have is that the CEO Mr Roth had supposedly issued himself one million preferred shares without any shareholder vote on the day of the global lock. Did that action have anything to do with the DTC decision? The company has been silent for over a year now so I am thinking that possibly because they already had legal troubles involving issuances and improper behind the scenes handling of the stock, they do not wish to rock the boat with the authorities. This means that the DTC global lock remains and it does not look like management is doing anything about getting it removed. Therefore, in my opinion, the only hope for the future for SFIO is that the company, Smokefree-Innotec Inc stays alive, gets funding and continues to execute operations. If the company itself can ever get off the ground and build assets and revenues then I think the stock will take care of itself. For now though the stock is in fact "dead" but that does not necessarily mean the company is no longer in existence.
GLTA
$SFIO!