Probably many are buying through DSPP due to not wanting broker fees or being unable to purchase on the OTC. Its a good number of shares. Not only that but warrants expiring each month brings in even more. Are you sure those shares are newly purchased and not warrants expiring? In November’21 $5million was brought in from warrants expiring. In December’21 $10 million came in.
They said at the June meeting that they had enough money to finish. So, I honestly don't see why they would need more money unless they were lying or something else.
Although Mr. Ellis is a whale with 20M shares its impossible to know if theres a few whales who bought the 170M shares or if it was hundreds of investors. The only way I know to figure it out is if someone knew how many shareholders Zion had before they started raising funds again and how many shareholders Zion has now. Even with that it would still be difficult to know because we wouldn’t know how many current investors invested more this time around. If its a few whales that did buy up the 170M shares then I would say something is certainly up as whale investors are savvy.
Can you elaborate on this linked website on where exactly you are seeing the 170 million DSPP buys over the last 2 months? I’m not a very experienced filings analyst so this is a little greek to me.
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