I have done a lot of posting on the SOC thread. From that people might think I am a big holder ... but I am not. Probably you and I have put a similar amount in. I started buying when the stock was 23 cents and paid as high as 24 cents. All up I have put in a tad over $20,000. In this game that's next to nothing.
Just like you I kept buying. At one stage I had 100,000 shares, which had cost me at that point $16,000, and the share price was 0.002 meaning my holding was worth $200 .... I spent another $4,000 at the lows [CR's, and SP @ 0.002 0.003 and 0.004]. Currently I have 1M shares and I have cut my loss back to $12,000 by doing a little trading.
Despite the fact the previous management [Hudson] hyped the heck out of this stock and probably told a lot of porkies .....in my assessment there is genuine value in the assets.
Hudson have sold out to GTT. For retailers GTT is not an improvement. What we have witnessed so far is a massive blowout in the number of shares all while the asset base has remained the same ..... in other words each share is losing intrinsic value. If GTT had shown some respect for the assets and attempted to explore the tenements and realize their value I would have been wholeheartedly supportive .... Instead, what we got was a lot of corporate game playing and nonsense.
I too want to see the share price go up ... but importantly I want that price to keep going up.
The way that will happen is if the real value of the company is unlocked. Putting cash in the bank with capital raising is nice but the money will only make money if it is put to practical use .... which means taking a calculated risk by exploring the tenements we have. Hyping the stock with the latest fashionable thing will produce volatility and induce gullible people to buy which allows some current holders to exit with a profit. That is not how I want to make money ... although that strategy seems to suit some.
It is not just Ergo who is willing to keep fighting. I could reel off a list of people who feel the same way. Most of those people have money as well, its not just small holders like myself who are determined.
Lastly, something the GTT boys will have a great deal of trouble understanding .... it is not about the money.
SOC Price at posting:
0.5¢ Sentiment: None Disclosure: Held
(20min delay)