OK just some observations by me, I have been in this stock since we were LFWK's and I am holding long and strong. Here it goes.
According to the past P.R. there is a 138 million float, that is not held by insiders or restricted. Out of this 138 million when Wessal purchases 25% of the 500 million outstanding shares or 125 million shares they are buying it out of the public float and not from insiders.
This is where we get the 13 million shares left for the general public to trade. (138-125=13)
Now if we take into account the speculative short position of this stock (which I believe is substantial) most agree that the naked shorts are anywhere from 50-200 million.
There has also been the possibility put out about a .01 yearly dividend, this is going to put the hurt on the shorts.
Now 13 million shares is not a large float to be dealing with and once we get to NASDAQ I believe that we will have a forward split of some kind, for the purpose of the following I am just going to say that we will have a 1 to 2 foreward split.
If this was to occur Wessal and the insiders would not be able to sell their shares unless they wanted to lose their insider status as they would still need to keep a percentage of the shares to keep this status.
This would only turn the public float to 26 million shares but it would also double the amount of short shares out there from 50-200 million to 100-400 million, take this and the possible dividend into account and the screws just keep turning tighter on the shorts. As if they decide not to buy back the short shares they will be paying $500,000 to $2,000,000 pre split to $1,000,000 to 4,000,000 post split, and this is yearly.
I for one do not think that a company would want to stick around and pay this dividend, have the possibliity of paying twice the amount of the dividend, and having to pay twice the amount for the initial shares they shorted. I believe they will just start buying back the shares they initially shorted, and they will do this as cheaply as possible which would be the smart move. This will run our PPS up even higher. Just beware of the shakes as they will play your fears against you. They will also start cluttering this board up with trash and other material not even relevant to try and distract you from the true prize at hand. Just keep your eye on the ball everyone.
This is all IMO, GLTY Longs
