I'm sure you already know this but for others benefit hedge fund managers reportedly stroll penny stocks - often for shorting purposes-but relatively high risk high reward investment is an option for them also.

the more private relationship with investors allows hedge funds more flexibility when it comes to fiduciary duty and is one of the reasons why they take high risks when others cant or wont

when they or most anybody reach 5% ownership they are required to file such ownership w the sec-there have been at least 3 more 13g filings by don ellis- the following is one of them- his first filing re ZNOG he had exceeded the threshold reporting requirement so i guess this current filing would be his 4th or more re ZNOG
https://www.otcmarkets.com/filing/html?id=169...KeJP7EaKLh

https://www.otcmarkets.com/stock/ZNOG/disclosure

as a group they dont have a very good reputation (e.g reportedly shorting penny stocks) there are ways
certain groups get around what shorters contend as diffiuculty shorting low penny stocks

Sears was bought by a hedge fund manager many years ago-ppl can read about that


without going thru all the disclosure I can see this is now the 4th or 5th or even more filings re ellis re ZNOG