they could be restricted shares that generally goes for 2 years Which is good for all of us They wont show up on the market and he can sell anytime after 2 years At that time the price should be high enough that he wont sell them all
Look under "Employment Agreement". He loaned the company $100,000 a long time ago and they paid him back with 100 million shares back when the stock price was in the 0.002 range. The 100 million restricted shares weren't actually issued to him until a month or so after this filing.
Previously, SEVI had 705 million shares outstanding with 272 million of those restricted. However, they've issued another 20 million shares in the last couple of months (almost certainly these are related to their stock option incentive program). So, increasing the above outstanding and restricted shares by 20 million and you get:
725 million shares outstanding 290 million shares restricted (approximately) and therefore the float is: 435 million shares float
I own a substantial number of these shares, and since I won't be selling for a very long time, you can effectively take me out of the float. Plus, I know several other long term investors who have multi-million share investments. Conclusion: the effective float is well below 400 million. The current market value of these shares is a paltry $600k or so... this for a company doing well over $1 million in revenue PER QUARTER. Obviously, any serious news could easily result in $600k of dollar-value volume in a single day... ie SEVI's stock could easily soar.
Good luck to everyone.
BTW, the total Authorized shares is only 750 million, so extensive dilution is not currently an issue. However, that could change if they reach some kind of refinancing deal to get rid of their toxic financing (which is why the stock price got creamed in the first place... it really has nothing to do with the company's operations.) Such a deal would instantaneously make SEVI's stock worth much more than it currently trades at.
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