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Wednesday, September 28, 2022 9:29:57 PM
Supplemental Information filing lists the running total up to 2,797,935,953 Outstanding. (Which equals the current O/S minus 32.5 M)
Of these, I only see 50 Million owned by anyone in company management. (Harry.)
There are also shares issued to Livingston after 3/31/2020 but we don't see from that Supplemental Information filing whether or not these were related to the 563 M settlement.
Even if ENZC issued 32.5 M new shares and Harry donated the other 50 M (though he probably didn't) to pay Livingston, that's still only 82.5 M.
So would that mean one of:
1) ENZC bought back some shares and used those to pay Livingston?
2) Livingston was already paid, or otherwise got paid less than the 115 M difference between the Sep 7 22 date and Mar 31 20 date?
Both possibilities seem plausible for different reasons. 1) seems plausible if ENZC wanted to prevent new dilution. But wouldn't the buyback show up on the books? 2) seems self evident, but then what about the Sep 7 22 disclosure? And who's selling so many now?
From the same Supplemental Information filing, I counted 675,815,876 shares that were moved from restricted to unrestricted in 2021. If some of those people only took profits last year and didn't liquidate - but for some reason are cashing out now - we could be talking tens or hundreds of millions of shares in the mix today. Perhaps.
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Sometimes I edit my posts in the first 15 minutes. Refresh for the latest.
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