Clarity789, Key with Your WNSH Float Numbers…
Clarity, thanks for your numbers! According to your numbers, the Effective Float (EF) is projected to be 3,115,693,541 shares to include if there are any naked short or shorted shares or any dilution in which I am confident dilution does not exist.
WNSH announced that they have 3,620,241,722 shares for their Outstanding Shares (OS). Appletree Capital has at least a 51% controlling interest at the very least of the OS if I had to guess since many of the changes that have been done are happening without the vote of us shareholders through proxy.
This means that the most the shares which are available for the public to buy or the Float which is made up of us retail shareholders could be no more than 49% of the OS or 49% of the 3,620,241,722 shares. This means that the company’s 51% controlling interest shares are probably restricted shares within the OS and equates to:
3,620,241,722 shares x .51 (51%) = 1,846,323,278 shares
Again, these 1,846,323,278 shares are probably restricted shares. Still, these restricted shares are the minimum shares that could be held by the company. I think the company is holding more, but again, the 1,846,323,278 shares are the minimum that could be held. This means that the remaining shares are shares available for the public to buy. This would be the Float or the difference from the “OS minus the controlling interest” or:
OS = 3,620,241,722 shares
51% Controlling Interest = 1,846,323,278 shares
3,620,241,722 shares - 1,846,323,278 shares = 1,773,918,444 shares
Float = “No More” than 1,773,918,444 shares
If the Effective Float (EF) is projected to be 3,115,693,541 shares, the actual Float could be no more than 1,773,918,444 shares. This means that the difference between the EF and the “No More” than number for the Float are the amount of shares that have been naked shorted and must be taken out of circulation by a covering. That difference is:
3,115,693,541 shares - 1,773,918,444 shares = 1,341,775,097 shares
This means that the Market Makers (MMs) or guilty entities of naked shorting must cover out of retail circulation a “minimum” covering of 1,341,775,097 naked shorted shares. This number could be much worse, but this is the minimum amount of naked shorted shares that are in need of being covered. If I was a MM, I would not wait until the nearing of 28 Sep 07 as that could cause a problem for regulatory reasons for not closing out their Failure To Deliver (FTD) naked shorted positions. We’ll talk more about this later.
Personally, I think the naked shorted position is much higher as I believe that the company owns more than the minimum 51% controlling interest. With the best case scenario, the Float could equal no less than 10% of the OS since 90% of the OS is what was expected to be transferred to consummate the merger with Appletree Capital. So the best the Float could be is:
3,620,241,722 shares x .10 (10%) = 362,024,172 shares
So, the actual Float is somewhere between 362,024,172 shares and 1,773,918,444 shares. This means that the naked short is somewhere between 1,341,775,097 shares or a number much higher. Either way, the WNSH inventory of shares that are being held at the “Custodian of Accounts” at any of the existing brokerage companies should be zero. An accounting of shares should exist as more legitimate things transpire to force such an accounting.
This means that as more shares are being sold on a daily basis, the worse the naked short gets and the greater the covering should be in my opinion. The naked short position will only decrease as people sell to contribute towards the covering.
The MMs are betting against WNSH actually transforming into a real company which is why we have not seen a huge covering just yet. We shareholders are betting against the odds and are under the belief that WNSH will actually transfer into a real company. As more and more is revealed, I like our odds. Clarity, thanks for sharing your numbers as WNSH appears to be a win win situation. These are my opinions as to how I see things as a worse case scenario.
v/r
Sterling
