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Posted On: 02/28/2019 6:12:05 AM
Post# of 154853
Nite
The float is 240M, but half of those shares are not held at the DTC, normally where unrestricted shares are. They are held in your brokers name at the DTC. Then each broker keeps up with the individual shareholders.
When these shares are sold from offerings, they are deposited in the buying shareholders account at the transfer agent, Computershare. Shareholders can request they be moved into their broker account, but many don‘t.
Computershare gives the ability to sell directly from their platform. Those shares would be moved to held at the DTC after being sold. Most do not, because the held at the DTC has not changed significantly over the last year. But I suspect the orders from Computershare that are sold, are routed through NITE, which explains why last year nite had so many for sell.
The selling started last year the day after the R/S was cancelled, so I assume some where waiting for the uplist to sell in higher volume liquidity, but decided it was time after that was cancelled.
The good news is that nite has been very quite lately. Everyone knows we are close to the inflection point here and any shares sold now may not be replaced with a new offering.
The float is 240M, but half of those shares are not held at the DTC, normally where unrestricted shares are. They are held in your brokers name at the DTC. Then each broker keeps up with the individual shareholders.
When these shares are sold from offerings, they are deposited in the buying shareholders account at the transfer agent, Computershare. Shareholders can request they be moved into their broker account, but many don‘t.
Computershare gives the ability to sell directly from their platform. Those shares would be moved to held at the DTC after being sold. Most do not, because the held at the DTC has not changed significantly over the last year. But I suspect the orders from Computershare that are sold, are routed through NITE, which explains why last year nite had so many for sell.
The selling started last year the day after the R/S was cancelled, so I assume some where waiting for the uplist to sell in higher volume liquidity, but decided it was time after that was cancelled.
The good news is that nite has been very quite lately. Everyone knows we are close to the inflection point here and any shares sold now may not be replaced with a new offering.
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