I can explain your "EXPH shares being held tightly". In fact, you explained it yourself referring to 22M shares as "peanuts". Eventually, once the party is over and the traders move on, near worthless shares like those of EXPH end up in the hands of those who originally sought to buy and hold at much, much higher valuations. Almost inevitably, the buy and hold crowd remaining in possession of these shares will try and "average down" in an attempt to escape on one last pump and dump. This usually fails to do much more than increase losses which is why I preach against it constantly. As the value of the entire EXPH A/S is now within the grasp of some single investors, it is no surprise that the 100 or so estimated shareholders of EXPH are indeed "holding tightly" to their shares hoping that JD Brown will perform that one last P&D. That is the obvious and most likely accurate explaination...averaging down with huge numbers of dirt cheap shares being meted out to patrons of the main MMs. You may have an explaination which involves clandestine agents and magnificent plots being hatched at EXPH to "fry" the naked shorts and propel long shareholders of the company to vast wealth. This only after an apparently non-existent "new" CEO is named, an apparent non-existent set of retailers is announced for ETC and the "transparency", which would have done away with all these "plots" and benefitted the insiders hugely (if reality was actually as you believe things are) had it been brought to pass in 2009, is finally sprung on the public.
EXPH's explaination is all just that simple. A scam nearing it's obvious conclusion and B&H shareholders (hopefully) preparing for the last great P&D before it burns out into dilutionary heaven with a reverse split, bankruptcy protection or an exchange of worthless paper for common shares and privatization. All IMHO.
SBB
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