Replies to post #54051 on TheGlobe.com Inc (TGLO)

[kazzy]

I figured some of it was based on assumptions on volume and trading patterns. I'm going through old filings now and think I understand the XL thought process now. Also, you are correct about the hedge fund disclosure.

[kazzy]

Alright, from his cryptic message:

172M - 150= 22M

Also: 172 + 229 + 40 = 441

Obviously there are challenged people out there but this spells it out. Learn the rules. Understand what beneficial ownership means with regard to securities.

https://www.sec.gov/Archives/edgar/data/1066684/000114420408017833/v108090_10k.htm

500,000,000 AS
172,484,838 OS

Michael S. Egan, our Chairman and Chief Executive Officer, beneficially owns or controls, directly or indirectly, approximately 274.7 million shares of our Common Stock as of March 5, 2008, which in the aggregate represents approximately 72.1% of the outstanding shares of our Common Stock (treating as outstanding for this purpose the shares of Common Stock issuable upon exercise and/or conversion of the options, convertible promissory notes and warrants owned by Mr. Egan or his affiliates).

There's no way of knowing his direct ownership based on the filings. Assuming 72.1% direct ownership (with options, promissory notes, and warrants):

274.7M / .721 = 380,998,613 MAX OS

380,998,613 - 172,484,838 = 208,513,775 MAX EGAN SHARES

Another hint:

Mr. Egan owns Dancing Bear Investments, Inc. Includes 125,000,000 shares of our common stock issuable upon the conversion of the 2007 Convertible Notes.

These were never converted. Thus:

274,700,000 - 125,000,000 = 149,700,000 MIN EGAN SHARES

172,484,838 - 149,700,000 = 22,784,838 OS minus EGAN (FLOAT)

That's the lower limit of the float.

208,513,775 - 125,000,000 = 83,513,775 MAX EGAN SHARES - NOTES (MAX FLOAT)

Assuming direct ownership, that's the max possible float. Likely, it'll land somewhere between.