Numbers.....PT1
Let me preface by saying that this post is 100% speculation on my part. I can only utilize current numbers and assumptions that I know to be true and accurate. I more than welcome any input to assist the board but here is my crack at actual numbers. In "My" opinion I think we are close to selling the remainder of the shares.
I am rounding off so don't pick apart to exacting. Here are post merger numbers for financial investors of Lexington:
Hudson Bay (.02 Warrants) 3400000
Hudson Bay Common 2300000
Iroquois 1760700
Frost Gamma 1737300
4 Kids (Alan Honig) 2478400
IP Nav 4495400
Total 16171800
Let me address each owner specifically:
1. Hudson Bay: I researched HB holdings and they currently do not have any registered holding above 5% in a "publicly traded stock. There are very important issues they would have to address and lets just assume they don't want to waste the powder on a small company like DSS. In addition to the 3.4M warrants they would have to sell an additional 2.3M shares to get just under that 5% ownership rule. Thus I am saying they would have sold 5.7M of basically free shares.
2. Iroquois is a habitual "pre-merger" player in the IP sector. Based on past investments they are running for the door with those free shares also. I am saying that they are selling their 1,760,700.
3. Gamma Frost: This would be my wild card. His history says that he would sell at least a portion of his holdings. Since I like round numbers, lets just say he sold 1M shares and letting the rest ride.
4. Since I believe Alan Honig is related to Barry and Barry registered all his shares that Alan's 4 kid foundation is going to let it ride for awhile. He is not required to report since they are private)
5. I am assuming IPNAV is an important player in DSS going forward and that he didn't sell his holding yet. He will eventually that is for sure.
By my calculation that would be 8,460,700 to be sold on the open market.
Part II next post
