Certainly a possibility, since the price started dropping right after OTC ignored the share retirement. Maybe a couple of large, dividend excluded shareholders saw the writing on the wall with the future dividend coming up and decided it would be better to get something now rather than waiting.

If that is the case, and I assume Joe's agreement with those folks is in writing, then there will several lawsuits - breach of contract with GNBT, and the due bill process for the investors that buy the shares on the open market. So I'm not sure there is a monetary advantage to doing this - lawsuits are expensive, and if they have to buy a second share to provide to the investor who buys their stock, there is money out of their pocket that way. If they wait too long and GNBT goes up (hey, we can hope, right?), that could get very expensive.

I also don't understand if an dividend excluded group is selling, why didn't they use their large share position to hold the price up while they "dumped" their shares (as is commonly done by MMs) so they would make more money on the sale? Dropping the price seems more in the manner of a short covering or an accumulation. But then again, we don't know what is going on behind the scenes, and Joe may not either. All we can do is ride it out and hope that we can meet the NAS requirements so we can move out of the OTC sewer.