Red Giant Entertainment, Inc. (fka REDG)

[rickn23]

I think it is REDG selling shares through Iconic (share purchase agreement), who sells into the market. REDG needs to raise cash to pay for the free comics they will give out in July. The estimated costs were about half a million per week (printing and shipping). REDG hopes to make money selling ad space in the comics. Almost half the number of pages are devoted to ads. These are 68 (64?) page comic books.

Edit
While there are short sellers, REDG is doing the majority of the damage. Short sellers and notes converting serve to push the share price lower, though.

Edit
share structure change

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=95943586

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=97469733

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=99151734

note the dates on the messages
(Thanks again for the info)