Tough to say he’s wrong when he was part of the team that approved the RS...they’ll have 60M shares post split with a 10M monthly cap
“Right now, there is approximately 2 billion shares issued and outstanding on a fully diluted basis. What's worse is that there is still about 500 million shares in the hands of the toxic lenders just waiting to be dumped. That only adds to the pressure on the share price.”
“Then we agreed to the one for eight ratio because it would enable the shareholders to maintain a holding in the company, while reducing the selling pressure. In this way, the toxic lenders would be left with something over 60 million shares to sell, while limiting their selling to less than 10 million shares per month, a number that is more easily absorbed into the market.”