46% increase to 3.5 cents on low volume today. Only 507k shares traded today, and 300k of them was at 2.3 cents.
Less than 200k shares on offer. Just goes to show what a little bit of demand can do when the register is tight. The final buy to take it to 3.5 cents was for just $80 though. I don't know if it's a bot, someone doing it just so they can feel good about a large increase, or someone wanting a nice even number of shares.
The SP will increase a lot once that first agreement to supply a clothing manufacturer eventuates. The presentation said that should happen this quarter. Hopefully the delays in India don't push it back much.
Still waiting on word from India.
It looks like my recent 500k share purchases around 2.5 cents and a few other people's purchases in that vicinity have affected the chart:
"NC6 sentiment among investors may be improving. The weak trend in the 200-day moving average shows that sellers were more aggressive than buyers for quite some time. More recently, the demand/supply equation has come into balance and the stock has shown little in the way of a confirmed trend. This could be a pause within the larger downtrend but it could also be the start of a new trend. Investors should proceed with caution."
I have another order for $5k at 2 cents. Do you think it will get hit? I think I might miss out. It might not affect the SP, but successful completion of the CR will give the company a little over $1 million in cash, which would mean a share price of 2 cents would value the company's efforts to date and potential at only $1 million. That would certainly mean a bit of upward pressure on the SP. $2 or $2.5 million MC for a company like this with $1 million in cash is a bit low. I think it's our little secrets.
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