Wow, they filed 144 paperwork for a shareholder who had held those 2 million shares for the required period and they had to file the paperwork with the TA to remove the restrictive legend under Rule 144. The shares the company is selling are these other 3.5 million shares they told you about. That's why the float went up 5.5 million but shares O/S only went up 3.5 million. The other 2 million are old shares that went from restricted to free trading.
In other news, the company plans to increase its outstanding shares by 3,500,000 for expansion of its marketing and development endeavors.
These shares are the ones the company is selling
In addition, management is also filling the Rule 144 paperwork that will permit 2,000,000 shares to be eligible for sale
These are the 2 million shares that freed up for a shareholder who had restricted stock
So you have a double whammy, 2.5 million shares being sold by a shareholder who just freed his shares up and another 3.5 million shares being sold by the company.
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