What Dianne is saying in a condensed sense is that 9.9% is only the cap at any one time. If iron sells shares they can get a refill anytime they want to replinish those shares. Here's why she is wrong.
If that were true we would already be at .00000001. Iron ridge would have no reason to ever stop selling shares because they could sell and sell and get refills forever and make infinity money. That has obviously not happened and would never be a deal somebody would agree to so lets ask what might be the real case.
The filing says that iron ridge can request additional shares during the calculation period it does not say that apt has to issue them. In addition this is just the abbreviated description of the legal agreement that is in place. The wording is just the cliffs notes version to make us aware that this agreement exists.
So lets see what we know for a fact. $16m worth of shares and 1.6B shares roughly have been traded since the calculation period began. We are well on our way to finishing this. The financials are due June 6th or sooner. This will be the confirmation many need to take a position in apt. Symbol change and letter to shareholders are coming soon. Apt management own 400M shares themselves. They want to succeed.
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