Here we go again with your denial that a share imbalance exists. We already discussed this a couple weeks ago. There is still no explanation as to how Calissio got to 900M shares outstanding. None. You tried to bumble up some sort of way to explain it, but ultimately couldn’t.
I’m not saying there isn’t 900M, as per the TA and OTCM, but where did they come from? The Court of Appeal decision involving COR made it very clear that several hundred million shares may have been fraudulently dumped into the market. The court decision also insinuated that Calissio insiders were the likely buyers of those shares. So, there may very well be 900M shares, but at least several hundred million are likely owned by Calissio…on top of what they already owned.
The court documentation during the SSM dispute identified “Clement Lockwood” as the majority shareholder, suggesting that he possesses at least 50+% of the stock (more than 450M shares). While I share some skepticism on who “Clement Lockwood” is, the fact remains that he was represented by a reputable lawyer, who would undoubtedly validate client claims before entering documents before the court.
What we can say with relative certainty (if using currently available data) is that there are 450M shares AT MOST that are actively available to trade, but this number could be quite a bit less.
With some indication that this company wishes to “go private”, it would be prudent for the business to try and acquire as many additional shares from the public as possible in order to reduce any premium they may have to pay in terms of a buyout price once fair value is established.
Even if it doesn’t “go private”, it would be highly beneficial for insiders to obtain as many shares as possible prior to a material change that would cause a large PPS increase.
And when you factor in all of the above information AND then add the likelihood that there are some brokers that do not actually possess shares that have been credited to client accounts…you have a share imbalance. What if combined client accounts hold 300M shares, but brokers don’t have them in their inventories. And then what happens when those clients want to sell after a dramatic price increase, meaning the broker has to buy them. But imagine this happening on a large scale with only 150-200M shares actively being moved around. Price will surge.
