My last post scenario - forces Joey to participate, though, to retain VOTING control. Think about it...7.3M was 4.99% of the o/s so they DON'T have to report.
Well, if it were John and Phil then they could have 29.2M shares (if they fully participate), hence Joey would need to buy at least 4M more shares to have MORE than both men combined. (assumes they sell most to use those proceeds to participate, of course)
Now, when warrants are exercised John /Phil could take full control of the company but why would Joey care as he would have over 30M shares worth at least 6 cents (and probably alot more) !!!
My money is on John and Phil being the "accumulators" from 9/25 - 10/31/17. Not a bad strategy as Joey has say until 6 cents is breached when he rides off into the sunset !
* Watch him start to take common shares soon in lieu of a salary !
