Wednesday, March 30, 2022 8:38:49 PM
Think one viable explanation is that the percentages includes warrants but without the fully diluted basis. In other words they messed up the math and counted the warrants without adding the subsequent dilution when factoring for the percentages. Not surprising though, these guys are either incompetent, malicious or most likely both.
The statement says explicitly that as of March 15 Mudrick and the hedge funds owned 66% of the vote.
"As of the Record Date, there were issued and outstanding 107,249,875 shares of Hycroft common stock, entitled to one vote per share. As of the Record Date, the Majority Holders owned, in the aggregate, 71,211,326 shares, or approximately 66%, of the issued and outstanding Hycroft common stock."
Since then they issued 90 million shares so even if I'm wrong that ship sailed.
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