mm,
the first thing you need to ask yourself is if there are only 109 million shares outstanding how is it that eddie can own 156 million of those shares?
seems like a real problem in the "math" everyone is throwing around about how much eddie owns.
eddie and his entities actually own 49.5% of the shares outstanding.
IF eddie and his entities were to exercise warrants and derivative securities, they would own somewhat over 156 million shares.
IF eddie and his entities were to exercise those warrants and derivative securities, that means that the 109 million outstanding shares would be increased by over 50 million shares.
there is a big difference between what eddie and his entities own outright (49.5% of outstanding shares) and what eddie and his entities beneficially own. since eddie and his entities have "rights" to additional shares, it is deemed they have beneficial ownership of those shares, not actual "in hand" ownership.
read the footnotes and think about this:
ESL PARTNERS OWNS 73.4%
JPP II, LLC OWNS 37.2 %
RBS PARTNERS, L.P. OWNS 73.5%
the above three entities, listed on the link you posted to me, collectively own 184.1% of the stock.
exactly how is it possible for them to own MORE THAN 100%?
you really need to revisit this topic.
as they said in the x-files, "the truth is out there"
it's staring you in the face. this is a classic example of looking but not seeing.
