At .0031, the RSI was riper than adam's apple at below 16. Still suggestively oversold at .005 with an RSI at 19.3 and coming off bottom. O/s is 621,815,326 as of 11/06, up about 20 mill from previous quarter.
Now for the nasty- dig this from the 9/1/06 Sb-2 filing. 1,201,491,000 shares registered baby! It is for the following reason:
Represents: (i) 7,600,000 shares of common stock issued to Cornell Capital Partners, L.P. (“Cornell”), (ii) 200,000 shares of common stock issuable upon exercise of a warrant to purchase shares of common stock previously issued to Cornell, (iii) 1,081,250,000 shares of common stock issuable upon conversion of secured convertible debentures held by Montgomery Equity Partners, Ltd. (“Montgomery”) in the aggregate principal amount of $1,718,000; (iv) 8,000,000 shares of common stock issuable upon exercise of a warrant to purchase shares of common stock by Montgomery; (v) 4,441,000 shares of common stock issued to Knightsbridge Holdings, LLC ("Knightsbridge"); and (v) 100,000,000 shares issuable to Avondale Capital Partners, II, Inc. (“Avondale”) pursuant to a consulting agreement.
You know Cornell and Monty are gonna make there money back soon... the volume between 9/1 and now hasn't suggested an absurd amount of dilution as of yet, but expect it soon.
It's got a nice gap to fill at .01 and at .006, but I don't plan on falling in love with this little lady. We all know that POS's with masive dilution hanging over its head like the sword of Damacles can run (BANY, etc.), but these things are time bombs....
Hope it gaps this morning. They recovered it on some pretty good volume EOD, good sign.
-------------------- A million seconds is 13 days. A billion seconds is 31 years. Posts: 4893 | From: Burbank IL USA | Registered: Feb 2004
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posted
Ooops- didn't see the other post- musta been drunk, lol
NITE off the bid now- big spread at .003/.005 on bid and ask- could have more buying opps at .003 possibly.
Posts: 949 | From: Little Rock, AR | Registered: Dec 2005
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