Actually I've already mentioned that. It's in the filing too. The same filing that says O/S 3.23B and 2.4B restricted also says 231M float. I'm confused. Where are the 600M unaccounted for? Could the old CEO have retained them and is now dumping them? The filing says the new CEO purchased a controlling interest, not the entire interest. That sounds like a real nice way to sell your company. Get a settlement from the new CEO for 80% of your shares and then dump the remaining 20% on the open market after a 3000% run on R/M news. Good job guys.
Well, even if that's the case, some questions still remain. Why is nobody besides the new CEO listed as a 5%+ holder? Is it a blatant omission from the filing? Or perhaps the old CEO sold his shares to multiple MMs before the filing so that nobody would have to be listed as a 5%+ owner. 5% is 161M, which seems like it may be around the amount that FANC dumped. This may be why we dont really see FANC capping the Ask anymore yet we still see dumping - it could be another MM now. Also keep in mind we dont have any proof that many of the 9M blocks were neccessarily traded from FANC...
Even still the question remains if the shares were sold to MMs then why are they not included in the float? The shares must be in one of two places: with a 5%+ owner or in the float, and the filing shows neither...
The good news here is there may only be another 200M-400M to dump and then it might bounce, provided there isn't an R/S.
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