I’ve always said Aspire sells all the shares as

I’ve always said Aspire sells all the shares as soon as they get them, hence no Schedule 13G in five years. So I don’t think yesterday and today’s selling was due to Aspire. My assumption of how preferred stock financiers operate is based on many websites. I suggest others to google for yourself. Here’s one from Bloomberg.

Death-Spiral Convertible Financier Has a Lot of Fun

Quote:

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Broadly speaking, the goal of these techniques is this:

1. A small troubled public company wants money.

2. All it has to exchange for that money is its own stock.

3. It is shall we say inconvenient for the company to do a regular underwritten public offering of its stock, because such an offering would require a lot of expensive and awkward disclosure of just how troubled the company is, or because it would be hard to find buyers for all that stock at once, or both.

4. And it is not legal for the company to just secretly sell stock into the market without doing a public offering.

5. So it decides to place the stock privately with a smart financing source.

6. It's not like the smart financing source wants the stock either! You don't get to be a smart financing source by buying penny stocks of troubled companies and holding onto them.

7. But "company sells stock to smart financier, who then sells it to the public" is not a good way to get around No. 4: The securities laws cover not only sales directly by companies to the public, but also sales by companies to the public by way of an "underwriter," and a financier who buys the stock only to sell it a minute later looks, to securities regulators, like an underwriter.

8. So you need to find a way to get stock into the financier's hands in a way that makes him comfortable he can get it out of his hands and into the hands of ... is it uncharitable to say "the unsuspecting public"?

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https://www.bloomberg.com/view/articles/2015-...lot-of-fun

If you find some websites saying the financier’s MO is to go long from the beginning and before reducing their risk, please share them.