SSOL - Sunvalley Solar, Inc. - Page 9
The S-1 filed on 1/26/11 is why.. 106.66 million newbies diluting the kitty with a price tag of .01395 or there abouts a piece. A $1.5 mil fundraiser at long's expense... better get used to it imo.
disclosure: in and out in three January days, up 400%. Was going to give it another try at .02 until I saw that S-1. forgeddaboudit
The s-1 is filed with the SEC. In it, is described an instrument for capital raise.. which includes the sale of over 100m additional common and freely traded shares offered at a rate of less than .014 each. This is a road map of where pps is headed in my experience (or lower). Say hello to new investors who are getting their positions at near a 25% discount to current share price while diluting current investor's holdings. The share price can not sustain further momentum while this occurs, especially with a start up that is likely to issue further common stock along the way to raise money to execute their business plan. For many pinksheet companies, this IS the business plan; fluff prs while selling stock for money until investors are cleaned out and the shares have no value for sale. I don't know if this is the case here, but at least temporarily my interest in the company's prospects takes a back seat to common sense.. this is not when to buy low and sell high ;)
Sunvalley Solar, Inc. (OTC Bulletin Board: SSOL), a leading solar power technology and solar system integration company, provides its shareholders with a brief explanation regarding the improper "E" appended to its common stock ticker symbol.
On Friday, February 18, 2011, FINRA improperly appended an "E" to the ticker symbol of Sunvalley Solar's common stock due to FINRA's failure to note the company's disclosed change in fiscal year end. Sunvalley expects FINRA to correct this error by close of market on Tuesday, February 22, 2011.