Enzolytics Inc (ENZC)

[foxi]

I'm seeing conflicting definitions of float online and it's pretty unclear what happens to float when Restricted shares held by company insiders or lenders become Unrestricted, but are still held in the hands of the company insiders or lenders. Clearly the company insiders or lenders aren't the "general investing public" mentioned in your definition of float, but the shares themselves ARE "available" to the general investing public since these parties can now choose to sell to them whenever to whoever.

UNRESTRICTED SHARES ARE NOT PART OF THE FLOAT UNTIL THEY ARE SOLD ON THE OPEN MARKET...

I still think this ^ is wrong, but it's hard to get an exact answer that also includes Restricted and Unrestricted shares and differentiates who's holding them.

These two definitions agree, but are vague about how to categorize Unrestricted held by insiders:

The float indicates how many shares are available for the general investing public to buy and sell. It does not include, among other things, restricted stock held by insiders. However, if insiders eventually sell their stock in the market, these shares become part of the float.

[your definition]

Float in stocks refers to the number of public shares available for trading in the open market. It is not the total outstanding shares, as it excludes any closely held and restricted stocks. Put simply, a stock’s float tells you how many shares can be bought or sold at the present moment.

https://finbold.com/guide/what-is-float-in-stocks/

This one disagrees:

A company's "float" are the shares are available for trading on any given day — in other words, shares outstanding minus any restricted shares.

https://www6.royalbank.com/en/di/hubs/investing-academy/article/shares-outstanding-vs-float/jk0dlma0

Whatever the definition (and it'd be lovely to get a definition specific enough to directly address ENZC's situation) your warning to investors seems valid, and I agree it's a red flag. Some parties connected to insiders appear to have been dumping hundreds of millions of recently-Unrestricted shares into the market.

There may be other explanations than ENZC being a share selling scam, such as some form of death spiral debt, but the end effect regardless is continued downward price movement until the sellers are done dumping.

AS YOU WILL SEE IN THE SCREEN SHOT BELOW, ENZC CHANGED MANY OF THE RESTRICTED SHARES LAST YEAR TO UNRESTRICTED, WHICH THEN GAVE THOSE DILUTERS THE FULL RANGE TO SELL (DILUTE) THOSE ON THE OPEN MARKET WHICH...

THEN MADE THE FLOAT INCREASE EVERY MONTH LAST YEAR AS YOU CAN ALSO SEE IN THE SCREEN SHOT BELOW OF THE FLOAT NUMBERS TAKEN DIRECTLY FROM ENZC FILINGS THAT EVERYONE CAN READ ONLINE IF THEY WANT TO TAKE THE TIME TO READ THEM...

This appears to be correct. Thanks for sharing your DD.