I called DF last night and spoke to him for almost 30 minutes…
As CEO, he has to sign off the conversions and he categorically denied dumping any shares – there have been a few small/minor conversions over the last couple of months but nothing like we’ve seen lately.
So guess what, he hasn’t been dumping and anyone who says so is talking absolute BS (my words not his but I believe what the guy is saying).
So who could it be then? It’s probably not retail unless some people are holding big positions and selling them all but at these prices, they’re not going to make a lot out of it.
It could be holders of shares previously converted but if we’re talking over 500M that’s a lot to be holding for a length of time so again probably not.
My best guess is the MMs themselves – they will have sufficient shares to be able to sell 40M or 50M blocks to each other without any great problem but why would they do that? My thoughts are to keep people interested in IFCR until the SP does go up and then sell to these new investors who seem to be waiting in the wings
Just because there have been 500M shares traded in the couple of weeks doesn’t mean they’re all new shares – that’s a poor assumption to make without any proof. That could just as easily be 100M shares traded 5 times…
All this BS about fake walls and millions on the Bid or Ask is pathetic because we’ve seen the MMs drop these at the slightest hint of news so they can put ‘em up or take ‘em down whenever they feel like it – again not very good thinking processes going on here…
Audits are close to being finished according to DF and we may see a communication shortly (I’m not going to be more exact as people don’t seem to like it).
He did say that the next couple of months are going to busy with lots happening (again I won’t elaborate) but it looks like there’s good stuff coming…
My opinions only unless stated otherwise…
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