Recently I had to switch banks with my business...
Post# of 41414
Posted On: 11/07/2014 5:42:47 PM
Recently I had to switch banks with my business.....not my choice, but as a result of "Operation Choke Point" - an extremely controversial and unconstitutional Federal Government Policy initiated under the Obama Administration (you can google it and make sure you are sitting down when you read it)......but I digress.....
..........so switching banks required me to have my shares actually IN a brokerage account (banks don't really believe in paper certificates, especially for penny stocks that they have never heard of).
Point being.....although my shares are considered "part of the float", they really are not......and many of the big PP holders probably have to do the same (remove restrictions and deposit them into a brokerage account to show to a financial institution).
So.....whatever the transfer agent tells you is the "float", my impression is that the chances are very good that the actual trading float is a hell of a lot less.
Having said that....and having called the transfer agent recently.....I can tell you 1 billion is an outdated number. It is higher right now....but again....it does not take into consideration all those PP shares that were forced to turn their shares into "street name" in order to "impress" a bank..............
..........so switching banks required me to have my shares actually IN a brokerage account (banks don't really believe in paper certificates, especially for penny stocks that they have never heard of).
Point being.....although my shares are considered "part of the float", they really are not......and many of the big PP holders probably have to do the same (remove restrictions and deposit them into a brokerage account to show to a financial institution).
So.....whatever the transfer agent tells you is the "float", my impression is that the chances are very good that the actual trading float is a hell of a lot less.
Having said that....and having called the transfer agent recently.....I can tell you 1 billion is an outdated number. It is higher right now....but again....it does not take into consideration all those PP shares that were forced to turn their shares into "street name" in order to "impress" a bank..............
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