They issued 125 million shares a while ago to get some cash at 0.004. Today it looks like they will print another few million. Already 70 million shares have been sold at 0.003 and there's only really one way to explain it. They need cash again. Only this time there isn't much left. I mean how much longer will they be able to pump new shares into the market? Nobody is buying them anymore so they have to dump them at the bid price. This will destroy the value even quicker. They are basically selling themselves into the grave. What a vicious thing to do... Only a company desperate for cash would take such steps.
I have dumped my holding at 0.004 coping a loss like never before and yes, I'm pretty angry about it. But it looks like it was the right thing to do.They will sell shares until it reaches 0.001 and then they only have a couple of millions bucks worth of assets to dispose.
The end is nie? It sure looks like it. One will be able to buy the whole lot for peanuts in a few weeks. Maybe a few shareholders should get together and buy it. I'm sure it's worth something. It's just managed by the wrong people.
NWT Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
