The chart appears to be ridiculously oversold- with an RSI of 2.49 and an o/s of 63,288,804 as of September 30, 2007, it’s certainly enticing. There actually was a decrease in o/s since the March 2007 10K, which reported an o/s 63,440,360 at that time, the PPS ranged from .011 to .013.
Very little volume has been observed when all of a sudden today- WHANGO! 4x over the average 5-day volume over and 13, 26 and 53 times the average 20, 50 and 100 volumes respectively. Very hard not to be charmed by these facts.
Now the flip side- there are no less than 5 SB-2s filed since June 2007, 4 of them are amendments to the original SB. Most importantly, it reveals that 9.7 million shares are being registered on behalf of AJW Offshore as part of a convertible notes agreement. See below:
The convertible notes were issued pursuant to the Securities Purchase Agreement dated July 31, 2006. On July 31, 2006, we entered into a Securities Purchase Agreement for a total subscription amount of $2,000,000 that included Stock Purchase Warrants and Callable Secured Convertible Notes with AJW Capital Partners, LLC, AJW Offshore, Ltd., AJW Qualified Partners, LLC and New Millennium Capital Partners II, LLC (Collectively, the Investors"). The initial funding of $700,000 of which we received net proceeds of $645,000 was completed on July 31, 2006 with the following parties and evidenced by callable secured convertible notes: AJW Capital Partners, LLC invested $67,900; AJW Offshore, Ltd. invested $413,000; AJW Qualified Partners, LLC invested $210,000; and New Millennium Capital Partners II, LLC invested $9,100. The second funding of $600,000 of which we received net proceeds of $600,000 was completed on September 19, 2006 with the following parties and evidenced by callable secured convertible notes: AJW Capital Partners, LLC invested $58,200; AJW Offshore, Ltd. invested $354,000; AJW Qualified Partners, LLC invested $180,000; and New Millennium Capital Partners II, LLC invested $7,800.
Now note the terms of the notes below. The strike price is structured using toxic/ death spiral financing tactics, i.e. it is to AJW’s benefit to see UNVC’s price plummet.
(1) Represents 9,778,351 shares of common stock issuable in connection with the conversion of Callable Secured Convertible Notes in accordance with the Securities Purchase Agreement dated July 31, 2006 between us and AJW Partners, LLC, AJW Offshore, Ltd., AJW Qualified Partners, LLC and New Millennium Capital Partners II, LLC. The price of $0.0078 per share is being estimated solely for the purpose of computing the registration fee pursuant to Rule 457(c) of the Securities Act and is based on the estimated conversion price of the Callable Secured Convertible Notes ( $0.013 was the average of the lowest three (3) intraday trading prices for our common shares during the twenty (20) trading days prior to the date the Notes were issued on July 31, 2006, less a 40% discount) .
(2) The number of shares being registered for the conversion of the Callable Secured Convertible Notes is 9,778,351 representing approximately №/ 3 of our 29,335,054 non-affiliate outstanding common shares as of September 13, 2007.
(3) None of the 9,778,351 shares being registered are shares that have been, or will be, received as liquidated damages or conversion default payments
The AJW Offshore arm has the ability to short companies that it has financed, so you have to imagine that this price is being manipulated by them somehow. Nonetheless, given the fact that the price drop is vastly disproportionate to the potential dilution and the recent volume, this still has a chance to pop a bit.
I wouldn’t get too greedy, but it looks nice here. I bought a small position at .001.
Posts: 949 | From: Little Rock, AR | Registered: Dec 2005
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Back to .0025 with some volume. Looks like they were looking for some shares yesterday with that .002 bid
Posts: 514 | Registered: Feb 2007
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Noone has been selling into that 2 bid at 100% profit yet. if the bid goes up were good if not people are going to sell soon
Posts: 514 | Registered: Feb 2007
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No kiddin. He's pumping the heck out of it. Super high o/s, will continue to go down and then r/s.
Posts: 725 | From: litte rock AR | Registered: Oct 2005
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I'm still holding UNVC from my original buy at .0011. I think it may have even more to go.
Posts: 2741 | From: Seattle | Registered: Feb 2005
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Took a little from me at .004 as well. I'll ride my freebies for a while. This one could test a penny easily...
Posts: 2741 | From: Seattle | Registered: Feb 2005
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getting a little action at the ask, real thin now, bid's up... this puppy moves easy...
Posts: 2741 | From: Seattle | Registered: Feb 2005
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More like round 3? This has been a good flipper here lately. This second time I held, should've sold out this am at .003. I have some at .0018...second round.
Posts: 725 | From: litte rock AR | Registered: Oct 2005
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-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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, one left at .0018, then .004++
