If you own over 4.99% or 9.99% of the OS, you will
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Posted On: 12/14/2019 9:29:58 AM
If you own over 4.99% or 9.99% of the OS, you will be considered affiliated or part owner of the company and there will restriction on the number of shares you can sell per quarter. For ONCI, it is 9.99% since the Canouse already got over 4.99% in the last reporting period.
If the Canouse get 9.99% or 400 mil, he can then dump them all in one quarter. He can get a similar amount the following quarter and also dump it. By that time, the toxic debt due in March will kick in.
The good thing is that the bid can absorb 400 mil at 0.0001 in one quarter. The CEO will have to do something big or the toxic debt dealt with in share issuance will bankrupt the company. It is all in the hands of the CEO. He has to deliver on something.
If the Canouse get 9.99% or 400 mil, he can then dump them all in one quarter. He can get a similar amount the following quarter and also dump it. By that time, the toxic debt due in March will kick in.
The good thing is that the bid can absorb 400 mil at 0.0001 in one quarter. The CEO will have to do something big or the toxic debt dealt with in share issuance will bankrupt the company. It is all in the hands of the CEO. He has to deliver on something.
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