So please explain your understanding of the recently filed S-1 and LL being able to sell his shares on the open market...at some point. I figure he wouldn't do it until the stock price is way north of where it is now.
IMHO, I think there is an excellent chance that the purported buyers a “straw men.” THEORY: Li couldn’t sell the shares to the real recipient without public disclosure. So, the straw men engage in the sham transaction (keeping individual share amounts to less than 5%), and then they transfer their shares to the intended real recipient without any SEC reporting requirements.