"after the RS it would still be the same people holding the 20mio shares float"
Hmmm. By that logic we might as well have a big forward split and have a 4 billion share float...hey it's the same ratio right? No I don't think so. I think most everyone realizes that a 20 million share float trades differently than a half a billion share float, etc. It can still be manipulated but small floats move like greased lightning.
..."unless new shares in significant amounts would be released into the float in which case you'd have immediate dilution and hence impact on the share price as well."
OK...Where are these new shares coming from?
JB? - I don't think so, according to the 8-K he enjoys no provision to convert
CB? - he's locked up for 2 years and can't sell much after that
PP? - very likely they are locked up too - but nobody knows for how long.
The AS? - if shares are sold out of that, that's dilution. And CB's 30% voting block - assuming his 144 shares can vote, AND assuming he converts his preferreds - is reduced commensurately - so that's one bogeyman who's less scary.
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