The 10-Q is an out of date snap shot of what was in Feb 2017. Read the 8-K about the purchase of of Aws by $MVTG that forced the debt holders listed in the Feb 10-Q, to convert all that debt to preferred shares, so non of that debt listed in the new 10-Q for the quarter ended on Feb 28, exists anymore, it is now working capital converted to preferred shares that have no market, that do not dilute common shares. Like I just said, I think shares converted in Nov-Dec.... could not be sold till now because of the 6 month restrictions and then the late 10-Q.
That is my current take on it.
The question I have is who is buying up 10 million shares a day and why!!!!! I am sure it is not retail buying all these shares, if they are buying any of them!!!!
Other than shares that are held by officers, directors, et al, at today's price the entire real float can be bought for <$400,000
To answer your question the CEO Larry Kristof operated the company since 2007, IPO was in 2008 and he only issued about 10 million shares a year on average during the R&D, patent prosecution efforts in 6 countries to get the 7 issued patents they now have, and half the shares issued were issued the last 24 months to pay interest on the debt and pay off some old debt as replaced old debt with new debt.
Some of this selling is retail panic, of that I have no doubt. If retail is selling who is buying and why!!! They are not buying to loose money!!!
If this was convertible debt shorting to drive the price lower to get more shares issued for the next dump we would already be at .0001, and we are not. In fact we have not reached the Feb 2017 all time low. I will say this, these buyers are not dumb, they are buying these shares as cheap as they can, as cheap as the sellers will sell them. They will not sell at a loss!!!! So there is a bottom!!!
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