Lets examine the 10B OS you commented upon. This assertion has been made since the beginning of January or before by shorts and others.
On 16 June the company reported the OS at 4,977,740,339 and the Float at 2,804,576,805. Later on 01 October 2006, shortqueeze.com and yahoo.com reported a float of 4,130,000,000. The difference between the float of 16 June and 01 October is 1,325,423,195 shares. Extrapolating that difference, the OS on 01 October could have been 4,977,740,339 + 1,325,423,195 or 6,303,163,534 shares.
Bill Howe indicated in a CFRN interview on 08 August 06 an OS of 6,000,000,000 shares. So the 6,303,163,534 number doesn't seem too far out of whack for a guesstimation on 01 October 2006.
Since 01 October 2006 Plasticon has traded the following volume.
Oct-06 904,470,801
Nov-06 578,388,243
Dec-06 1,027,818,753
Totaling 2,510,677,797 shares.
As a daytrader you know it is very unlikely that all of that volume represents shares sold by Plasticon into the float. In reality some portion of that monthly total represents normal trading flips, tax loss selling of shares previously held, and short covering volume. But for the sake of discussion lets say that the volume does represent 2.5B shares sold into the float. That would yield a float of 8,813,841,331 shares. Over double the float reported on 01 October 2006.
On 01 October 2006 the closing price was .0007
On 01 January 2007 the closing price was .0005
Are you asking us to believe not only that every trade during the fourth quarter was from new dilutive shares sold into the float, but also that one can more that double the float in that dilutive manner to 8.8B shares and see the price decline by only .0002???
Doesn't make sense to me... but until the guessing game is resolved you can make any assertion you desire.
rrm
► Any comment provided is my personal assessment/opinion of the indicated stock. "When the gods wish to punish you, they grant your wishes. Therefore be careful of what you wish for."
