Perhaps they were retired as part of the package to buy the shell. The new management said- look- we want the 8bil you issued that haven’t hit the float. We want them before they could ever hit the float. Then management retires them with the TA.
This is not hard to assume or fathom as it happens all the time in negotiations between interested parties in a deal to buy a shell or stock and the controlling preferred series or control block. The only way they could have retired those shares already is with what I have aforementioned. So I’m taking my chances that when management said they have an even bigger reduction in play- that that is what they are alluding. That would leave this stock with an incredible OS and float - and frankly - that is how it’s currently trading. It’s a thin stock and now we know why.
Thank you for your commentary. I find it rather engaging.
Market Data 
Markets 
AI
