Scon,
GGI gets the stock at 80% of market price and then immediately sells it. Their idea of a long position is a week.
The viability of the company means nothing to them; all that matters is enough trading volume to dump the shares as quickly as possible.
Per their contact they never own more than 9.9% of the O/S. However, that doesn't mean they can't sell 9.9% a couple of times a week, contibuting to a huge increase in the O/S.
A real investor gets restricted stock, which they have to hold for at least six months, but not GGI. Their stock is issued "unrestricted" somehow.
If the CEO had not surrendered the shares he did, they would have been required by the GGI contract to either raise the A/S or do an R/S.
Good luck!
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