01-04-2020, 11:00 PM
(01-04-2020, 07:54 AM)DDgains Wrote:(12-21-2019, 07:47 AM)Monk3 Wrote: I have traded for a profession for 18 years. I have never seen something like this. I have absolutely no idea what is going on. My NUS.TO shares got converted to NUSMF shares automatically by my broker in August.
Someone is trying to gobble up all the shares they can as cheap as they can get them. Everyday I say "Hey, sell them since when has turning down a couple thousand been a bad thing?" I'm not selling, I'll no doubt end up with zero but I'm not selling. Yes something is going on here. I have no idea what. Before bankruptcy normal volume 20K-40K maybe... for months. Now, average 400K with days of 1M+ shares being traded. Been following NUS since 2006, not stopping after 13 years.
I have seen this a couple times before. NUSMF is a public shell, a publicly traded company that has gone bankrupt. And what is happening now is a consolidation of the "public float". Meaning there is an investor or group of investors consolidating as much of the publicly traded shares, at the lowest possible cost. Why? For a possible REVERSE MERGER in the future, that could either be related or unrelated to the newly formed Nautilus/formerly bankrupted nautilus, or other private business looking to trade publicly without filing for a traditional IPO. Possible Scenarios:
1. Existing major shareholders are consolidating shares of NUSMF, to roll the newly structured/post Bankruptcy Nautilus. 2. Existing Major shareholders consolidating shares of the public shell for a future reverse merger unrelated to Nautilus. 3. Investor(s) unrelated to NUSMF consolidating majority of shares (51%+) for future reverse merger. Hope this helps.
P.S. What happened to muai4marko, followed him regularly back in the yahoo forum days and eventually to this forum?.....