I've opened the books and I see from the reports that there are 10s of millions of shares if not 100s of millions being held (not being converted, not being deposited and therefore not even available to sell) by a lot of investors, many of them in the "related" party category.

If it was what you say, no "related" investors would be holding on to their stock for years and years, they would "dump" them as you say. All of them. I counted up the shares at one point and I think "related" parties were holding on to around 100 million shares. It's not a P&D when there is no D going on.

So, no, you are wrong again. As always.