You tried to bumble up some sort of way to explain it, but ultimately couldn’t.
On the contrary, I suggested you ask the transfer agent.
The Court of Appeal decision involving COR made it very clear that several hundred million shares may have been fraudulently dumped into the market.
Of course. Those were the Nobilis, Beaufort, and Alpine shares. The ones they converted and dumped into the market in the summer of 2015.
The court decision also insinuated that Calissio insiders were the likely buyers of those shares.
Actually, it was COR who "insinuated" that. For an explanation of its theory, see the original complaint. The gist of it was that Calissio planned for the new Nobilis, Beaufort, and Alpine shares to qualify for the cash dividend--which they should not have done--so that CRGP insiders could snap them up when they hit the market, and profit by receiving the divvy themselves.
Did that happen? Ask "Adam Carter".
The court documentation during the SSM dispute identified “Clement Lockwood” as the majority shareholder, suggesting that he possesses at least 50+% of the stock (more than 450M shares).
Or--and this is quite common with these, ah, figurehead CEOs--he could just have received non-convertible preferred stock. CRGP had authorized--and still has authorized--25 million shares of preferred stock. That could give Lockwood control without excessive dilution.
CRGP raised its authorized three times in July and August 2015:
The first a/s raise appeared on the Nevada SOS site on 21 July, taking the authorized capital from 300 million shares to 975 million shares. The second was registered on 11 August, when the a/s was raised from 975 million to 1.475 billion. And the third was recorded on 25 July [sic: August], upping the a/s another 2 billion shares to 3.475 billion.
That information used to be publicly available at the NVSOS site. Thanks to the people who redesigned it, now you'd have to purchase the documents in question. You can, however, still see notice of their filing here:
Interestingly, the final increase in the a/s--to 3.475 billion--was made on 25 August 2015, the day before FINRA halted trading.
And when you factor in all of the above information AND then add the likelihood that there are some brokers that do not actually possess shares that have been credited to client accounts…you have a share imbalance. What if combined client accounts hold 300M shares, but brokers don’t have them in their inventories.
Once again, the judge in the case had those numbers. The documentation in question is not available to us because the submissions were sealed to protect shareholders' privacy.
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