Daybreak Oil and Gas Inc (DBRM)

[xiws]

Sales, sellers, volumes and pps
This issue has made me wonder for quite some time, and I've shared that in some posts in the past.
The # shares moving as % of total shares outstanding is rather high, over the space of a year, unless a smaller number of shares are really churning.
But that would be odd without any notable pps changes - why buy at .10 and sell at .11? Or sell at .11 and buy at .10? While a .10 buy, and a .15 sell is a good profit, at those prices it does take a LOT of shares to really make much real difference. And the average daily volume is just under 70K. At .10 thats really only $7000 a day total. Peanuts. Lots of 5K blocks - which are only about $500 a piece. It is, quite literally, a penny stock.
Seems odd to me. You'd think that if there was some group that held a lot of shares, and had been slowly dumping them, they would have run out long before now with other folks seemingly willing to buy them at .10 to .11. The price has been rather stable for quite a while.
I wish I knew. You can't help but wonder what it is that makes them want to sell. I figure there are a few obvious candidates: a) day traders playing for the penny difference.
b) general impatience
c) need rather small amounts of cash for other stuff
d) real doubt about the long term performance
I've not seen anything about a major placement or offering for a couple of years - last one I remember hearing about the units were sold at about $2.50 a share. Current pps is a big paper loss since then, obviously, but the more important question is what is the future direction from here. For those folks, it would comes back to "why sell" unless really impatient, need cash, or truly doubtful.