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Wednesday, November 17, 2021 10:11:57 PM
So technically George Sharp was being deceptive by saying that if it was about profit he would have exercised the warrants months ago. He can't have the restrictive legend removed from the shares until Dec 4th anyway so it doesn't help to exercise earlier.
As the previous reverse split deception also shows, George Sharp isn't an honest man. Don't trust him.
George has to wait until Dec 4 AFIAK. Obviously George won't exercise until he has assurance that Brian Foote will consent to having the restriction removed so Brian Foote surely has every incentive to give consent. That's $25 million for Brian Foote to use and, at current prices, nets George/Forwardly about $36M plus any premium he may be making by already shorting shares.
So will there be further selling/short selling leading up to Dec 4th? There are 250M shares, about 25% of the current outstanding share count, underlying the warrants of George Sharp and the other party.
After Brian Foote and George Sharp get their cuts with the warrants, shareholders will have to contend with the slow release of the series B conversion of 5.6 billion shares over the next year or so. However Brian might drag his feet on 144 consent with those.
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