I don't claim any expertise in these issues, but:
1. For the purpose of determining beneficial ownership the outstanding share denominator remains 722+million. It has not changed based on any published, authoritative document. So there is no question that Pike's ownership percentage qualifies as a beneficial ownership position. Otherwise he would have had no need to file a Form 3.
2. Rule 144 covers both restricted and control shares. Are you saying that Pikes shares 1)aren't control shares or 2)Pike Capital isn't an affiliate under the definitions provided or 3)both. In any case, please explain your basis for "the 42,000,000 Pike supposedly bought after the suspension were not 144 shares".
Also, given that your original post includes "the insiders" ("Its more likely that Pike is selling and, IMO, the 8K/PR was meant to help him and the insiders get rid of more"), please address the above issues as they relate to the directors. Their shares are definitely control shares, are they not? ("Control securities are those held by an affiliate of the issuing company. An affiliate is a person, such as a director or large shareholder")
I know that Rule 144 is usually brought up in the context of restricted shares, but per the link in my previous post it clearly has application to control shares, too.
