Who is they? CEO cant just dump ILST treasury shares to the open market LOL
Leonite as a whole owns(owned) shares in .005 loan conversions/warrants of 373.5M and .001 REG A shares/warrants of 984M or 634M if they didnt buy the 175M RIGHT before the REG A closed(?), which would have been a warrant conversion instead. Unfortunately that data will be on the q3 in October.
1.35B(or1B) shares total in all owned by Leonite and 50M in total to Roran Capital.
1.4B traded since July 2nd, when the first big dump occurred(probably to keep themselves off the q2 paperwork, 2 days into q3)
Leonite cant have many shares left to dump from REG A/warrant conversions, hence why they dont try to fill themselves on the .0001 with 1.1B shares on the bid.. there is no guarantee where they sit in that pecking order.
They set themselves up for major upside with this move.
HUGE average down, now they can sell all the trip shares on the way up...
Id say they have close to 1B shares from .0002-.0006 loaded tf up and ready to put out some news to sell into. There was only 2M .0001 sold when it did hit it.
.0002 is the bottom and an easy 100%+ when volume comes I do believe.
They own close to 45-50% of the float, give or take IMO.
If they dont sell much(or none), this can fucking flllllyyyyyyyy.
Most of the shares are held anywhere between .0014-.011 averaged price for retail over the last 5 years.
Maybe this was the plan. Lock up the float and keep the ask thin once this is out of the trips, hell they could buy even more on the way up for an even bigger stash and lock it up even further. Not out of the realm of possibilities.
There is a silver lining somewhere, they didnt just dump like this(IMO) to lose 50-80%(.0005-0002) on their .001 shares directly after an offering, but to instead gain 100%+ easily when this does move, and to keep it out of trips because they own the majority of them.
We shall see... not really any other option as everyone is bagged here.
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