Yes they canceled shares but added preferred class.
I think it will come out that the company has been selling… just speculation on my part. No way in my mind was that sell off just retail. Short crew I’m sure piled on but why would they not.
But basically nothing that created the build up has come to fruition yet a ton of money has been passed through and the company did sell some that was referred to as “overhang”.
I thought GSFI and CGAC and recently GSAC were shady but this one tops them all