Need to here from Cyd Mighty, Ohm, even KGK2 (but
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Need to here from Cyd Mighty, Ohm, even KGK2 (but limit the rhetoric to 10 pages or less).
That someone took a stake of 199.8 million shares makes no sense, no matter how you look at it. There are less shares of common stock available than that. Institutional holdings are based on common stock holdings not preferred shares. Even if all preferred shares were sold and were converted to common shares that would be less than 43.9 million shares. That leaves buying a majority of 200 million shares on the open market over a very short period of time. We haven't seen the number of shares traded that would equate to that and the price would certainly be higher than it is now. The current share price is certainly based on the speculation of 200 million shares institutionally held. Most likely it's a screw up of the reporting entity or a deliberate action of the entity to manipulate the price.