Yes, sadly, PNCH stock saw tripps today. The PPS dipped briefly into .0009 today with a 12.1 million share purchase late in the day. Someone followed that up with a 1k share purchase at .0011 to close the day (yes folks, that’s a $1.10 buy), with volume ending at 23.8 million. It could be said that almost 1/2 the volume today was at .0009 because of the 12.1-million share buy.
The blame game is in full force regarding the PPS. The blame for some is largely assigned to the bashers, while still others blame the CEO, Steven Samblis. However overall it appears most blame Steven Samblis.
Mr. Samblis did come on the Investor Hangout board in an attempt to defend himself against accusations of lying, however little was accomplished except to regurgitate old accusations. Mr. Samblis, rightfully so, requested specifics on the accusations of lying that were being levied against him, however the posts became nasty, and by the time the posters calmed down enough to posts specifics… Mr. Samblis had either left the board, or simply choose not to respond. In short, noting was accomplished except to make it easier for those not familiar with the lying accusations to find them now in recent posts.
Its a shame… both sides need to calm down, post thoughtful and coherent posts, and forgo the personal insults. Mr. Samblis needs to understand that investors are extremely frustrated at the falling PPS, and are seeking straightforward sincere answers to their questions. For the most part, the questions the investors are asking are fair questions (albeit not respectfully worded). Investors are not unlike most people in general, in that, they can be understanding and forgiving if they are given the information straightforwardly and honestly. And yes, there have been times Mr. Samblis has been unequivocal with his answers, and still some investors don’t believe him. Could Mr. Samblis be lying in some of his answers… its possible, but unlikely. Mr. Samblis, as CEO of a public company, can not be caught misleading investors by giving known false information. The negative ramifications of doing so could be disastrous for both the company, and him personally.
The bashers over on LieHub are likely smiling and high-fiving one another over their self-assigned successful efforts at driving the stock into tripps. In fact one rather prolific basher has single handily claimed sole credit for costing the company millions of dollars in worth by driving down the PPS with his scare tactics. Also, another basher (who has now found a second vacation home so to speak over on Investors Hangout) today continues his unsupported accusations of dilution. This brain donor calls all trades dilution, yet today states ” … and the TA being gagged its impossible to know how many shares are being diluted.” Well, which is it… either you know the trades are dilution, or, its impossible to tell because of the gagged TA ? But… that’s how bashers work their magic… they make unsupported accusations, and low information investors think its fact. Well… don’t be fooled – do you own research.
Now, there appears to be a new group of bashers… the frustrated longs on Investors Hangout. Their frustrations are understandable… but their bashing a stock they are supposedly invested in, is not. It is just crazy to bash a stock you are invested in unless you are shorting the stock. Their concept for their new found bashing posts appear to be an effort to force Mr. Samblis to make changes on how he runs the company, and to prompt Mr. Samblis to address the many open issues he has not addressed. While their concept may have merit, its unlikely that tactic will be successful. Such has not proven successful over on LieHub, in spite of several attempts by Mr. Samblis to address their concerns previously… and, the bashing doesn’t seem to help the PPS. Thus, history demonstrates that bashing the stock, and Mr. Samblis, is not a successful method for getting him to address the issues. Time to try another approach don’t you think ?
Now to be fair and balanced… its also time for Mr. Samblis to try another approach also. Although frustrated posters can be very disrespectful in their questions… Mr. Samblis needs to get past that frustration and focus on the underlying root question. Being rude and disrespectful in response to someone being rude and disrespectful to you, has not proven to be useful or productive either. Mr. Samblis also needs to understand that anything he says will be twisted around by the hard-core bashers over on LieHub. He also needs to understand that his silence and vague answers will also be twisted by the bashers. He can not let the thought of those that don’t like him cloud his judgment on informing the hard-core investors in his company. If he does his job as CEO and keeps his investors informed… they will set the record straight when bashers get out of line. Loyal investors will carry the message forward if they are given the ammunition to do so. However, no one can win a war with blanks. Without useful information… the battle, and war, will be lost !