I don't care if the float is 500 million. The audit has revealed a short position above the float and a dividend is coming up. You figure out what happens next.
I dont think anyone here is disputed the "legal" definition, or the true amount of the float. I am a fairly inexperienced investor and I understand the definition of float. The difference is we believe, or at least I believe the company is being truthful when they said the other 68 million shares are not released for public purchase as it relates to their financing arrangements.
You may be forgetting that if a company uses stock as collateral for example, a convertable note, the stock issued as collateral IS part of the O/S but is NOT part of the float. Only if the note is converted does it become part of the tradable float.
That is what I came up with as well, still a low float, but disappointing, then again I knew dilution was taking place months ago, this was admitted with a simple phone call.
Non the less, company is still progressing nicely.
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