No because they are still trying to get out at the highest price.
They are trying to sell as much as they can and as fast as they can without killing the price too fast.
But as buyer pressure weakens as share price falls. They will have to speed up as they can see buyers losing interest.
So they will pause for a little bit then comeback at it.
This is different than note converters who are owed a fixed amount in dollars for shares. So doesn’t matter to them what price it converts as long as equals the dollar amount owed to them. So lower the price the more shares would be dumped. But that doesn’t seem to be the case here.
It’s more methodical dumping. Someone trying to get out at highest price they can. But shorts and mms can also see this and leverage them as walls while they drop the price.
The spread grows bigger as bid support diminishes.
The company itself can’t dilute since they are not current with filings.
And we know 11M restricted has already been dumped. So it’s probably still continuing.
As long as OS stays the same. Float will still be under 80M.
But we are not going anywhere until it’s over. 35M restricted left which showed on otc markets last updated on 9/13.
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