Plausible but doesn't explain the buyback of 50K shares that took them back over the 5% threshold. What about the lack of wash rule execution on the offshore fund on that transaction? It was only 6 days subsequent.
I believe there is more to the situation than meets the eye.
My source and the off exchange short sales.
The Obus propaganda letter to MP.
The possible leasing or parking scheme with Ryan.
Ryan's similar history with ZQK and the 90% PPS collapse during his $11m investment and 18 month propaganda campaign with Quiksilver management.
If the 400k shares were leased for example with an illegal return buy back arrangement with Ryan that allowed the $1.5m in tax loss credit, only to have the shares called back in the near future recapturing the original holding size. Ryan is listed as holding 1,500,000 shares (including the 400K shares acquired in private transaction with WC) and Wynnefield holding about 700,000 (subtracting the 400k shares disposed in the private transaction with CONSAC). If you call back the 400k from Ryan to Obus, that leaves both parties holding equal 1.1m positions.
Of course that type of agreement is illegal but Obus has been under indictment for insider trading for 10 years.
We will see soon enough with the official scoreboard being the PPS. We will probably never know exactly what transpires behind the scenes but MP history shows its highly recommended to take profits whenever you are able unless you are an insider like MP's history of penny stock promoters, executive indictments for mislabeled products, CEO fraud, criminal history and bankruptcy, revolving door executive and BOD seats, SEC Investigation into executive embezzlement, excessive compensation and stock grants, etc...
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