My point to the original poster was that those registering their stock were not likely to hold it. I realize that making a point using an absolute provides a mechanism for someone to argue it because there are few absolutes in this world.
So could someone register the stock simply because they want the freedom to sell it at some point, but not right away? Of course. But the registration was required for some of the issuances under the agreement with the financiers and they don’t like to hold for very long.
But let’s look at what we know. In a number of cases the amount of stock being registered for an individual holder is less than their total holdings. Sure sounds like they want to sell some of it.
Also this S-1 has taken way longer than I suspect many insiders expected…there is going to be some pent up selling desire with the stock in hover mode in the .10’s.
And then there is this….from their OTC disclosures:
“ We previously were a shell company, therefore the exemption offered pursuant to Rule 144 is not available.Anyone who purchased securities directly or indirectly fromus or any of our affiliates in a transaction or chain of transactions not involving a public offering cannot sell suchsecurities in an open market transaction.”
I had not been paying attention but IF indeed nobody has actually been able to sell (despite the DTC deposit number increasing) because of the shell company status then this stock is absolutely doomed when this S-1 goes effective.
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