No, no, no, no! CRGP didn't issue the new shares,.
Post# of 11036
Posted On: 09/06/2015 3:00:03 PM
No, no, no, no! CRGP didn't issue the new shares,...
Quote:
nwar Member Level Sunday, 09/06/15 01:50:27 PM
Re: BigBake1 post# 31310
Post # of 31340
No, no, no, no! CRGP didn't issue the new shares, the note holder did. They converted the note into shares. CRGP was buying them back, trying to recover as many as possible from this toxic kind of financing.
If the share was in the market prior to the effective/deferred ex-date -set by FINRA according to the 25% rule- it qualifies for the divi.
COR and the note holders were doing the scam they do with many other OTC companies but got caught with the special divi.
On top of that, was COR or the note holders short? Don't know, maybe only the note holders, but it's a "standard procedure" to short to make the price tank, convert at the lowest price, and get the highest amount of shares.
Were some MMs short? Don't know but it seems some were. They saw the conversion, expected the price to fall, and shorted like hell.
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