Lets get straight to the point:
ETLS has 300,000,000 shares authorized
Mark A. Uram owns 102,225,000 of those shares: http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7067251
That leaves 197,750,000 shares out there to be traded.
Today ETLS traded a staggering 196 million shares, virtually the entire float. After a day like that you'd expect this stock to be at $.0075 - $.01 a share.
Instead ETLS closed the session down 18%.
It's obvious someone is selling shares they are not authorized to sell. There is no other way to explain today's price action. At some point these phantom shares will have to be accounted for and that will be the tipping point for this stock. The impetus that drives it well over a penny.
Shorts you have been warned.
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4 comments:
Bob, fascinating, who is Mark A. Uram
that he holds that many shares?
i hope i can milk the cow a bit on this one:) some losses need to be covered from 2day
There's nothing precluding Mr. Uram from selling his shares. Is it possible he was selling into the recent price spike?
If he was selling, the buys would be even with the sells. The buys far outwiegh the sells. Besides, acording to filings, why was he buying on the open market? He's not selling.
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