I have a feeling that 800MM volume day had something to do with the settlement talks in the lawsuit, given the timing and suddenness of it, so we may see a stipulation of dismissal filed next week and the case get closed. Pierce would probably rather hand out a ton of shares than have to open up his books and bank accounts and ownership/inventory info to the courts lol.
Just like they did when they settled the DKTS lawsuit, they can use the 13(g) exemption (that may be wrong section, don't have time to check the old DKTS PR from way back when) for court approved settlements to get around Rule 144 and dump settlement shares immediately rather than waiting a year like note holders have to.
Pure speculation, but if I was owed $100k by someone who almost certainly couldn't afford to pay it and had no assets worth going after except paper shares, I would probably cut a deal to settle for $60-80k and call it a day, especially when Adams was only owed $30k or so in actual salary (the rest being statutory and punitive damages). Coincidentally, 400MM shares issued and dumped at .0002 comes out to just that ($80k). Factor in double printing for all the block sale cross trades we saw Wednesday, and throw in a bunch of retail selling and boom, you've got yourself 800MM+ in volume.
If true, we can probably expect a PR soon about how ISBG is "pleased to announce that it has successfully managed and eliminated a significant legacy liability" or something like that, and assuring us that while it required issuing a whole bunch of shares, the future is bright and there will be YUGE updates coming soon.
Maybe next week? ;)
