He has no evidence. It's always possible. The only way to confirm is to see a share structure update on the state's website, the pink sheets or with the transfer agent. I'm sure he didn't bother confirming with any of the sources.
one indicator is when a stock trades hundereds of millions of shares in a day or so with little to no upward movment....and remember this stock has 3 billion shares on the street and an A/S of 5 billion..... And yes I own shares for the last 3 years....