The push down to minimum price was always in the game plan. It's not quite over yet. The new terms for the notes are now in and our new "saviours" will hold a majority of them. Whether they convert them to shares pretty well straight away or not will be interesting to see. The push down over the last few days was likely some of those $75k shares they got recently. Interstingly, the 24million shares at the end of the .002 sell list has been withdrawn now. Also, in yesterdays trading, about half of the transfers were not listed in my course of sales - indicating I presume off market transfers. It all smacks of manipulation - but we of MST are quite used to that, aren't we?
What's the bad news? The price may go down to .001 & all the new notes be converted to give our new investors a very large stake.
What would be the good news If they did this? - a large part of the company debt would be removed. It would also mean that the new investors are confident enough to have their equity in shares, the same as us, and that we could then have some hope that another new investor will bring in real cash to the company. This would of course mean further dilution but at least the company would keep going. We long term holders might not get all our money back, but have some hope of getting a proportion of it, at least quite abit more than you'd get on market at the moment.
Another scenario is that they drip feed their notes into shares, keeping the price down as they go and then do a mass convert once there's a "hint" that a decent contract is on the way.
All in all, the whole scenario was fairly predictable and all we can do is hang on for the ride. Actually, I have a buy on it now that the note conditions have been changed because it isn;t going to get any lower than .001 and has reasonable prospects of getting higher than .002 in a while.
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