Its Tangiers selling new shares into news. The majority of the pre reverse split shares are still locked up from being sold because Matt's TA is taking its sweet time delivering the new cusip shares to the various brokers.
If TA wasn't gagged shareholders could monitor daily the ever increasing outstanding share count.
The chill only effects the easy and fast electronic deposit of shares. The old fashion paper route still works.
~$110,000 changed hands today on CBAI's stock. Tangiers is happy people are thinking .14 is a bargain. If today was mostly buys, why didn't the pps increase?
There are certain risks related to sales by Tangiers, including:
The outstanding shares will be issued based on a discount to the market rate. As a result, the lower
the stock price is around the time Tangiers is issued shares, the greater chance that Tangiers gets
more shares. This could result in substantial dilution to the interests of other holders of
common stock.
To the extent Tangiers sells our common stock, our common stock price may decrease due to the
additional shares in the market. This could allow Tangiers to sell greater amounts of common
stock, the sales of which would further depress the stock price.
The significant downward pressure on the price of our common stock as Tangiers sells material
amounts of our common stock could encourage short sales by Tangiers or others. This could
place further downward pressure on the price of our common stock.
