m02, the numbers are already there, so this is just the rehash.
Prior to the split, there were about 74 million shares outstanding, with a 19 million share float, leaving 55 million restricted shares.
Post split, that would be 148 million shares outstanding, with a 38 million share float, leaving 110 million restricted shares.
The current information states there is now 1,268 million shares outstanding, with a float of 326 million shares, leaving 942 million restricted shares.
So…
Outstanding shares have increased by 1,120 million shares, a 757% increase, for 88% dilution to the non-inside shareholders from pre-split.
Float has increased by 288 million shares, a 757% increase, for 88% dilution.
Restricted shares have increased by 832 million, 756% increase.
Pretty obvious that the increase in restricted is, IMO, to maintain majority ownership of this shell, and to also provide a vehicle to support the buyback illusion by just turning back in restricted shares. This happened in 2005, where Downs claimed a 10 million share reduction from the “buyback”, but then had to admit he actually just turned in a bunch of restricted shares (he got called out since the volume didn’t support his buyback claims).
This is such an obvious scam, I don't think the SEC will even do anything.
Good luck with any trend plays, but don't get caught holding the bag....
LITO
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