AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 4,546,888
If we look at the chart, we can see that those shares could not have come from CD conversions, because there were not 5 trading days with average close of 0.20 prior to March 1st 2007.
This CD holder was holding the maximum amount of shares 4.99% of the O/S, and some or all of those shares were bought, and not all or none came from conversions.
I find it quite interesting, that the biggest CD holder already owned 4.99% of the O/S at that date, and at that price, x10 fold from doday's PPS.
I've always stated that most probably, insiders will keep their control over the company, through these small 4.99% ownerships that donot have to be declared to the SEC.
Conversions beeing done at end of month, but also seems some CD holders (as in this case), also had shares not coming from conversions, but they bought shares as well.
Well, there we get a bone to chew and on which to think about all this CD+Warrants strategy.
The CD holders are allowed to accumulate up to 4.99% each one of them (they are 13). And they donot have to file with the SEC, because they will never own over 5% of the O/S. But, all of them together, they can own up to 65% of the O/S, which would be 72 million shares, because we must consider the O/S made public before the 13th of the month, and that is 111M as of august.
I believe this is the way through which the insiders will keep control of the company without having to disclose anything to the SEC.
Probably the CD holders are selling some shares, to be able to convert at these low levels, and fillback their 4.99% each one of them.
I expect the CD holders to convert all their CD's at some point, but I don't know if there will be somekind of PR or something, telling us they've converted.
I think HDSN and some other MM's are selling shares from the CD holders and they'll convert at these levels, maxxing the O/S up to 200M shares, and keeping up to 72 million shares among all of them.
Right now, the conversion price we'd have, and the CD's still not converted, as per the 10Q, would more or less match with the 200 M A/S.
All those 'Mirror Trades' and "T Trades", everyday, and the sustained high volume on no news or hype, suggest me that there has been some major 'back&forth' placement and distribution of shares among the 13 CD holders, and considering the 111M O/S, they will max out the A/S up to 200 M O/S, and they'll keep up to 72 million shares without anybody noticing.
They'd have been selling the spare shares mostly to friends, LEBED & co, LOL, and also some at market, at a profit to pay in part or all, their investment, and now they'll keep freebies, or almost free shares.
I donot expect Vaccine Sales News until they have converted their CD's.
But I do expect a lot of hype and continuous PR's once they've finished with all the CD conversions and with each one of them holding 4.99% of the O/S.
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