Replies to post #16032 on Bantek Inc (BANT)

[s366sxe]

Any comment on this post? Little different info regarding conversion limitations

“Just spoke to Alpine, so here are there restrictions, they have been in place for roughly 5 weeks, they will last at least another 1-2 months more. We did not discuss what happens after that time period. I'm not sure about other note clearing houses except from my friends info saying they each clearing house has similar restrictions.
1) When ALPINE has a note it uses most of the time one of 3 MM's, CFGN, CSTI, CDEL.
2) They are restricted to selling 99k shares a day on lower volume stocks.
3) On higher volume stocks, they use the 20 day Average Daily Volume. I believe he said for $DRUS its ~16 million shares. Sounds a little high since this higher volume has only be recently. Need to go through the volumes and see what is the actual numbers. In these high volume cases, a note holder like Alpine which is under restrictions and has been for ~ the last 5 weeks and the gentlemen form Alpine says he expects the restriction to last another 1-2 months, we didn't get into detail what happens after that.
4) So, a rough example, the 20 day average daily volume is ~16 million shares.The note holder is ALLOWED TO SELL FOR THE DAY UP TO 20% MAX # OF SHARES WHICH IS SET BEFORE THE DAY BEGINS. So, that would be ~3.2 million shares per day MAXIMUM THAT CAN BE SOLD REGARDLESS OF IF THERE IS MORE THAN ONE NOTE. Meaning, for example, if 2 peeps put in 2 different notes, they would not each get to sell 3.2 million shares each. Alpine would divy up the order so that each of the 2 holders gets roughly 1.6 million shares each to sell. They don't get to sell 3.2 million shares each.”

[s366sxe]

Do I have this correct?

Total o/s 155,000,000 x 4.99% = 7,734,500 shares a day

Per what you are saying?

$150,000 note / .015 (low share price average) = 10,000,000 shares to clear note at these prices

Which realistically could be completed already