Seeing as J. Rod is the owner of 5277 Partners, the shares owned by 5277 Partners are declared as beneficially owned by J. Rod Martin, proof is in the filing. If he failed to file a Form 4, that is a huge problem, and it will catch up to him in time!
This supposed 16M shares is just another fictitious number! If J. Rod owned over 16M shares it would be shown on the companies filings, and it simply isn't!
Rod actually owns 16,117,467
Instead, it states he owns just over 5M, which is 5M less than he owned in December of 2011!
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