I'm not making excuses for anyone ! I'm stating a fact That shares issued to private placement is held for 6 months to a year on restriction. Most would hold a year for capital gains
So since these prices are the LOWEST EVER there is NO WAY private placement people would be able to SELL Minimum of 6 months ago this stock was over 1 cent !
So Private Placement sellers would NOT even make ANY MONEY at this price, it wouldn't make sense. They get it a 50% discount Means it's a half of cent paid It's trading at a half cent now
What's the point !
Not to mention , this is a not why they would purchase stock
It's to be involved with Americas newest airline , not trade penny's
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