Float is 250mil of which 125 mil is registered and trading as of about 2 months ago. The other 125 mil is unregistered. When MCIG was lifetech the float was 25mil. When MCIG reverse merged they did a 10 for 1 fwd split to increase liquidity, so they say. stupid idea. Better idea just throw a few million shares in the float before any announcements and until you get the price to where you want it.
So lifetech shareholder(s) own 125mil unregistered shares. It is obvious that those 125 mil must be owned by some former lifetech insider(s). That is one hell of a gift to give an insider of a former company. I have asked the company the questions over and over
1. Who owns the 125 mil unregistered shares of MCIG?
2. Explain how those shares are of any benefit to the current and future MCIG shareholders?
3. Retire the 125 mil unregistered MCIG shares
20 years of trading POS diluted pennystocks tells me this is an inside deal. If and when those shares are sold they will dilute the float and the price of MCIG. Who benefits from the sale of those shares? Lifetech insiders or MCIG insiders as well.
4. Why would you set up such a deal that 125 mil shares of your stock are controlled outside of your company?
The koolaide drinking crowd doesn't like to hear talk about this. They will delete posts as off topic. The company ignores it or acts like they don't know anything about it. BS. This is the Achilles heal of MCIG.
I have asked 2-3 times in the last 2 months for a TA update on the share structure MCIG support simply ignores the request. Someone will respond that its a settled issue, not a factor, blah blah blah. Its always there and could knock the price of MCIG on its azz.
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