Fraudulent 20-F they try to hide YP %
In page 88 we are informed that 90,2% + 9,1% + 1,7% equals...91,5%
Funny I would say the least. What is funnier is the way they inflated (Bertsos and his employee) the % of ownership of these 3 major shareholders in order to hide YP %. 90,2% is 31,850,000,000 Bertsos shares divided by 15,309,713,626 shares as of reporting date plus 20,000,000,000 i.e. divided by 35,309,713,626 and not by 33,614,444,445 which is the figure of the table.
Same goes for Fred Pier shares.
The obvious reason they did this is hide the % of YP which is to become an affiliated party (with the respective trading restrictions) if its % of ownership exceeds 10%. As per the 20-F, there were 2,640,046,960 shares issued to YP from January 1 2017 to May 15 2017. Taking 15,309,713,626 o/s as of May 15, the % of YP is approx. 17% and in order to be below 10% YP should sell more or less
1,240,000,000 (before R/S of course), which for whoever has the slightest brains is impossible.
Further in case YP % exceeds 5%, then YP should be subscribed as an underwriter with SEC. This is the same case as Kalani for Dryships.
So buyer, be aware of this SCAM, because they steal stupid people's money to finance their negative cash flows.
Hopefully there will be complaints filed against this POS and its mgt. like the ones filed against DRYS and GE.
