i say "at least" because he, or any broker/entity/associate he's connected with, may have been buying the dip after the deregistration was announced.
then consider his "liquidation preference" (see 8-K below) could net him even more shares. how many is hard to say, it depends on what the pps per share is.
roche did the $200K financing at .0142, but he may calculate the liquidation preference based on a sub-penny price during this dip. who knows?
just as an example, let's say roche gets his 2.5X the loan amount ($200K X 2.5 = $500K) divide that by .0142 and he gets 35.2M additional shares for his liquidation preference.
add it all up:
149M was his count after the 1st financing deal + 32M liquidation pref at .0142/share + let's say he or someone else grabbed 20M shares while the stock collapsed during oct/nov.
so far that's 201M of 320M (remember, the OS increased due to his liquidation preference)...
oh, and don't forget his family has ivue holdings 18M shares, so that's a total of 219M of 320M shares, about 68% of the OS.
as a caveat: maybe my numbers are off, maybe he won't trigger the liquidation preference. i'm also not sure if he's able to buy shares in the open market without filing a form 4, due to us being dark.
but the fact that the bridge loan is convertible into more common shares says to me wants more than 51.3%. maybe he'll use additional shares as equity stake(s) for deal partner(s) in acquisition(s). maybe some of that stock will get retired to the treasury to increase his leverage?
if i were in the guy's shoes, these are the angles i'm considering.
thoughts from the group?
GRegoty: to your point about when we hear something, i think it's a function of when roche feels he's got enough shares. once that point is reached, he could start issuing PRs constantly, and push the pps a lot higher. jmho.