Only like a fool Noch claims that gives him 45.33% ownership in IFLM
The problem is that Noch is using old outdated share structure numbers from 2016 (the last time IFLM disclosed its share structure). Back then the O/S was 585,867,360 shares.
Anyways, to answer your question. What's my take on IFLM.
The float is over 3 billion even after Noch bought up 265m of the float.
Anybody speculating that Noch is trying to buy up enough common shares to gain control of the IFLM shell is an idiot.
IFLM created Series AA Preferred stock in 2015 and each Series AA preferred share has voting rights equal to 4X's all of the outstanding common shares.
Jeff Richie owns all 10 outstanding Series AA preferred shares.
The only way to get control of the IFLM shell is to acquire those shares from Jeff Ritchie.
Noch can buy up all the outstanding common stock in the retail float and he still won't have any claim to the IFLM shell.
So basically Noch is just wasting his money because now that he is more than a 10% owner his stock is restricted and cannot be resold back into the market. If he does sell the stock he will be violating securities regulations and could subject himself to enforcement litigation.
All Noch managed to do was draw attention to a dead scam shell creating a pump & dump scenario for a bunch of social media traders that don't really understand the situation at all or do and are just trying to get other people to buy IFLM stock at a higher price than they paid so they can profit off the trading action while the stock is still seeing liquidity/volume.