I have been receiving many Pm's with questions about what TY has posted with regard to WDCO and other brokers. First, let me say that I was surprised to see this posted but I can only assume that this was run by management first so it has been approved by PCS for sharing.
This is what we call OVERHANG.
What TY is saying here "A large group plans to take the DTC findings and buy out WDCO's shares."
OVERHANG BEING LIFTED IS GOOD NOT BAD.
I noticed weeks back when I first put PCSV on my radar that WDCO was a constant seller of small amounts. Never whacking bids like a convertible debt diluter, just a constant seller. Over the past 5 weeks WDCO has moved up his offers but continues to sell. I figured there was a certificate to sell but I also thought that WDCO may have been shorting in front of the order. That is not the case. WDCO is simply filling a standing order to sell 1 mill shares. I have calculated based off of the last 5 weeks that WDCO has sold approximately 10-20k shares per day. This means that WDCO has sold about 600k out of 1 mill shares over the last 3 months.
This is what we call OVERHANG.
What TY is saying here "A large group plans to take the DTC findings and buy out WDCO's shares."
OVERHANG BEING LIFTED IS GOOD NOT BAD.
An Institutional Investor has SEEN THIS and IS HANDLING IT.
It is my assumption that the overhang will be taken care of in the next day or two if not sooner. This means you should not see WDCO or any other broker constantly on the offer. I expect that this will be an ongoing practice by the company. Meaning, they will run DTC reports periodically to see if any past certificates are in conversion. If so, it is my assumption that the company and Institutional Investors will make arrangements to buy up the shares.
In conclusion, the pps of PCSV should not be under any pressure and should move upwards.
