BlockQuarry Corp (BLQC)

[Carini]

My guess is that they are using those 2B shares to allow the defaulted note holders from DKTS to convert out and get off ISBG's back (i.e., the "big move" or whatever they called it in the PR that would be beneficial to the company's future). Mostly that opinion is based on the trading pattern we've been seeing here the past month, which is eerily similar to the last months of DKTS before it went to no bid -- i.e., when the same people were dumping over there. Namely, heavy bid support with an ask that refills in 5-7MM share blocks whenever it thins down or gets cleared. Once buying finally dries up at a given ask level, it drops down a tick and the pattern repeats for another few days. Note that most of the spurned note holders aren't the usual toxic lending forms -- JG, LG, Union, etc. -- but more like individual investors who are more likely to trade through NITE or CDEL than VFIN or VNDM. Note the contrast with the more usual VNDM massive bid dumping in early February when Post Oak was the one converting instead. JMHO.