As the link below states, McCusker is reducing O/S to a 8-900 million float.
No, they said a FLOAT of 800 to 900 million shares was their "target".
And how do they propose to do that? The float is by now in the billions, thanks to Oshana's selling. It seems the company doesn't want to say exactly how big it is. And since the company has also declined to file Q1 financials, they haven't felt obliged to make disclosure.
We know McCusker himself owns 1 billion shares; that stock is restricted. He also said another shareholder owns 1 billion restricted shares; we have absolutely no idea who that shareholder may be, or how he came by that much stock.
None of that, however, is relevant to making a very large number of shares disappear from the float. There are only two ways to do that: buy back stock on the open market, which would be expensive, or do a reverse split, which would cost pretty much nothing.
So be careful what you wish for.
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