Yep, my recollection is the 2 officers and directors invested $9M of their own cash into MVG and owned 100% of the company. They then had an IPO at C$3. They have still not sold a single share per the filings I've seen and now own 39% of the company. However, they were wise enough to sell additional shares on the way up and thus diluted themselves down to 39% ownership without selling a share, and MVG has gobs of cash...