Hello Mike.
A float lock is not something concrete, it is simply an idea. The idea is that a significant percentage of the o/s is in accounts of shareholders that are considered "strong hands." Strong hands can be construed as people who are not flippers, but are longer term shareholders. It is also understood that any restricted shares are in strong hands and have lengthy lock up periods to prevent a company's insiders from flooding the market with their discounted shares. This scenario typically comes into play with companies that have low o/s counts and low float shares available for trading. The idea is that there are simply not that many shares to be traded, and that if people do want to purchase shares, they'll most likely have to pay more for them, especially if good news hits.
That being said, the news on AMST was certainly not on my radar and came as a complete surprise, and not a very good one. I guess I don't have to be on the lookout for Histostem 2010 financials now. Anyway, the fact that Histostem is willing to continue the relationship with Hawk and Amstem as their distributor is a life saver for current shareholders. They are the silver lining in this mess right now, and it is because of them that the float lock idea may be really valuable in the future. Before the merger was supposedly consumated there were only about 35M shares in the float
The share structure as it now sits most certainly has to be readjusted in a major way since the merger is dead due to Korean law. We will have to wait for the lawyers to do their thing with Histostem/Hawk to figure out just exactly how many shares it is going to take to satisfy the Koreans for using Amstem as their sole distributor outside of Korea. The current shares in the o/s is about 180Mish. When all is said and done, I think this number will be much much lower (but we'll all have to wait for the lawyers/Histostem to figure out what is fair for them). After all, any restricted shares issued to support the merger should be put back in the treasury and retired (or something like that).
If and when Amstem does start to sell Histostem stem cell based cosmeceuticals (they haven't sold anything yet), then a dollar figure/market cap can be calculated. There should also be a more consistent flow of information to shareholders via PRs that could incite retail to jump on board (how much they'll have to anti up for the shares is pretty much up to the folks who own the shares).
Anyway, I do still peruse this board, and I saw that no one was responding to you. So, I figured I'd take a few moments and lay my thoughts down for you. All of the above is simply my opinion and should in no way be construed as a reason to buy/sell this issue. Your question was very very good though and shows you are thinking along the lines of a shareholder that recognizes the possible value in what is now a totally revamped company. In 15 years of trading I must say that I have never quite seen anything unfold the way this story just did. Lots and lots of expletives on my end of the line when I read the PR. I did have a couple long chats with Tom Fox. Shareholders are lucky to have Hawk on board with Histostem.
I wish everyone the best. Adios from Nevada.
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