Replies to post #10401 on Electronic Cigarettes International Group Ltd fka

[TESLA777]

I believe its one of the note holders to the company, either the 4% or 6% convertible (IMHO). They are receiving monthly payments from the company, they typically get paid in discounted shares based on the contractual agreement of the loan and the ave. PPS over a 15 day period of time.

When the lender is paid with these discounted shares, the O/S increases and the lender has the option to either hold on to those shares, or sell them into the market which then also increases the FLOAT.