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Saturday, August 09, 2014 9:51:09 PM
The following table shows CANV's share structure as of the end of June, 2014.
Note that of the 2.75M shares sold for $1 in 4Q/13, 1.45M were sold to "outsider" (non-affiliated) Accredited Investors. Those shares, along with the 50K held by former director Sobieski, were able to have their restricted-for-six-months status changed by mid-June. Some of those were probably sold in June and early July, but began to hit the market in earnest in the past week (for example, Mackay's 100K shares would have been eligible to begin the restriction removal process in mid-July.)
Another 6.15M shares were sold to outsiders in 1Q/14. A portion of those are probably off restriction now, but the bulk of them will be eligible to have their status changed as August proceeds and until the end of September.
IOW, what we've seen the past few weeks is only a small taste of the selling pressure to come.
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