Vandham Securities VNDM was not a market maker on SATM in August 2011. But became one in Sept of 2011. In October 2011, VNDM was 15% of the volume and has since reported to FINRA that it has been 10% of the trading volume since.
Coincidence? Someone deposited shares there and is methodically selling on average 10% of the average daily volume to collectively and cumulatively sell 10% per quarter. Sounds like a selling plan.
I did not report these share volume reports to FINRA, never been to VNDM's offices. Facts are just that