It seems there are still some loose ends from the merger. The name change hasn't yet appeared on FINRA's daily list (consequently our board name hasn't changed yet). Also, OTC Markets hasn't updated the share structure yet.
...the company has 9,960,078 shares outstanding as of May 9, 2019. Delta Dental of Michigan owns or controls 2,531,604? shares or 25.4% of the company while Delta Dental of Wisconsin owns or controls 2,107,675 shares or 21.2%. That's 46.6% control via Delta Dental companies. There also seems to be an ownership interest by Delta Dental of South Dakota and Delta Dental of California although I haven't yet been able to pin that down. Wisconsin and Michigan bought in at $5.04/share after the merger and are unlikely to sell at less than that or for the foreseeable future (there's a 180 day lock).
Given the institutional ownership of C3J prior to the merger and ownership by management and other insiders, it's unlikely that there are more than about 2 or 3 million shares in the float. This is why the volume is so light.
My question is why there is such a heavy interest from Delta Dental. The only thing I can figure is that they must feel that there is potential for some sort of cavity fighting antibiotic formula. The question then becomes, are they trying to suppress this as a threat to their business or are they looking at this as a profitable future investment. Could Merck's interest also be for some cavity fighting mechanism? JMO
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