The float was handled very poorly. $1 issue price is difficult to understand. A 20 cent float would've been so much better. It will take time for all those non-patient, non-escrowed investors to churn.The company has been around for more than 10 years. If I was holding for 5+ years I would also be tempted to sell now that you can.
40m+ shares tradable. Very few new ones came on in the IPO. Many must've been shareholders for years. Of course they'll take advantage when they can finally sell. But liquidity is so bad and it will take time for new long term holders to replace the stale bulls.
But, make no mistake, this is a working fertilizer. They are miles ahead of speccies in this sector. They have a working product. It is now up to the CEO to win contracts everywhere. If he can then the upside is enormous.
SOI Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held