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It would appear that they have, but I'm going to repeat my most common mistake and assume institutional algo traders can't be that stupid. Unless it's the equivalent of EIS / SEIS baskets. Then that becomes frighteningly plausible.
Is there no equivalent of EIS / SEIS in the States?
A million OTC penny investment? Why not start a company yourself? Make it R&D-heavy under the UK's SEIS scheme, get all your investors (i.e. your buddies) massive tax breaks, and award yourself benefits-in-kind equivalent to an annual salary, *and* an annual salary, all before the stock price even moves.