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Friday, August 18, 2023 6:28:38 AM
Currently with BDPT.....The float is at 764 M per etrade and it says 760 M on yahoo finance. So lets go with Etrades numbers. The OS is 776 M. So there are 12 M restricted shares and 764 M shares that are out there being traded around. Whether some of those shares are still being held in a brokerage account by a debt holder or management or a consultant we just don't know. But we do know they are in the float....pool of free trading shares.
The float as of last October was 122 M. So it has risen at just about the same rate as the OS the past 8-9 months. So since the float has risen 640 M during that time, I think it is fair to say that is the reason for why the stock seems to trade a little thicker and would also seem to explain the selling that we are seeing in the stock still. Because there are just more shares out there to trade.
We know where 200 M of that 640 M shares came from, but it would be helpful to know where the other 440 M shares that have been added to the float have come from and why. Especially since that older debt was not paid down per the last 10 q. I would have thought it would have been to pay off the debt principal but it has not been. Perhaps it is just servicing the debt? IE....paying the interest? General expenses?
Perhaps one of you who are talking to the CEO could ask about that.
Either way the stock does seem to move fairly well. Even with the higher float numbers it isn't like the Titanic to move. Would have been better if the float was lower but nothing you can do at this point. At least we know that as long as the OS doesn't go up that the float can only go up 12 M more.
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