Just an estimate I suppose. But again, having these things in my backyard and Brock blabbing the whole time.
But I'll clarify - all from memory, but I know several of the original options agreements - including the one handwritten on a piece of paper - were in the old SEC filings.
The Amigos originally bought almost all the shares. There were other people, but I'll bet the Amigos were the only ones that wrote 6-figure checks. Then they awarded themselves tremendous amounts of options. The documents showed several private placements, more options, etc. Certainly all to the Amigos and their friends. That is how this game is played.
When the battery family came aboard it was few hundred thousand shares for them.
The new board members all got a few hundred thousand shares.
Don't forget the tens of thousands to Visser and the Penn State Lady.
Then last fall they sold a few million more for 3 cents a share - who do you think they went to? More friends. Thats the way the game is played.
In calendar 2010 they diluted the shares by nearly 50% - none sold on the open market, all given away for .035. Would you do this for a total stranger?
Company can't make payroll, OK, NBD give the employees - all executive level - several hundred thousand shares.
So long story short, I'll bet you 85% of the shares are owned by about 12 or 18 people all with a direct piepline to management.
So much for fiduciary duty to the shareholders! And then just for appearances, we'll all get to vote at the annual meeting. But I guarantee the Amigos and friends can outvote all the rest of us.
Its all perfectly legal, and doesn't violate the letter of any SEC regulations, right?
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