Enzolytics Inc (ENZC)

[foxi]

This seems plausible and here's some additional data:

1. In that Supplemental Information filing we see restricted shares becoming unrestricted throughout 2021. At the beginning of 2021 there are 1,127,105,441 restricted shares and by year's end 2021 there are 451,289,565 restricted.

At present on OTC markets, there are still 443,789,585 restricted shares. So not a lot of new unrestricted this year - but from December 31 2020 to December 31 2021 I'm counting 675,815,876 shares that were moved from restricted to unrestricted!

Maybe not everybody sold, and maybe some kept a few shares for a rainy day, but at whatever point they lifted restrictive legends, they could have sold. The Supplemental Information filing also mentions it's possible to "elect" whether to remove restrictive legends if SEC requirements are met. So if these guys elected to move shares to unrestricted, they probably wanted the option to sell.

It might take a long time for brokers to slowly bleed out 675 M shares. They also have to balance the orders of everyone in line to sell.


2. Livingston may have been converting up to 9/7/22. But it's confusing because only 32.5 Million new shares appear in the O/S so far in 2022. It kinda suggests ENZC paid Livingston in Common shares ENZC already owned; or not much of the settlement remained.


3. If The Zhabilov trust shares are in that supplemental info filing under "Zhabilov, Dannie TTEE" they are probably part of the total shares that were made unrestricted. If not, they'd only add to the selling pressure.


Agreed flippers have not been significantly dragging this down!



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