Summary Thoughts
posted on
Jun 01, 2013 09:27AM
The IP efforts that began with the 1st set of filings (TX 7) in 2008 I think it was, saw what the court system was about in these matters and ditto CO 19. The process moved at a snails pace with hick ups and delays along the way. It was grueling to follow the day to day and we moaned and groaned...lol.
Up until this conf call May 29, Handal's filings starting Oct 23rd has moved along rather swiftly with settlements coming withing 5 to 8 months, now we have hit the "court system wall."
If anyone thought every step of the way would be a slam dunk without set backs, well...what can I say?
The PPS closing at .1064 yesterday is ugly, but look at it this way.
Based on a buy / sell chart available at another site, and from time to time I do not find it 100% accurate, here are the numbers:
buys = 353,420
sells = 493,821
or ~ 1.4 sell to 1 buy ratio
With in the neighborhood of 280 some million shares in float, is 494K being sold from those who don't care to wait, a stampede out of the stock?
Those who placed sells at market are in the MM's grip, so ended up selling their shares without any control as to where it would land.
Handal still has many in the pipeline not part of this 10 month delay and for all we know, based on recent PR's, settlement news is in route very soon. Then it is possible of these 19 they won't all go the distance and settle up.
None of this is pretty, but the vast majority as proven by the numbers above are waiting it out.
GLTA, Joe.