Replies to post #102647 on Laidlaw Energy Group, Inc.(fka LLEG)

[DragonBear]

And he paid how much for this stock?

It gets even butter than that. Let's assume a working hypothesis Bart will uplist so he can regain value for his stock holdings in the company. Let's assume by some incredible feat he is able to uplist.

We have a float of 2.4B, with 2B of it owned by Mazuma. Bart has 75M in common stock or common stock options. The rest or 3.5B are the preferred which he would have to convert to common, diluting the float. Basically if Bart tried to sell after a hypothetical uplisting, the float would increase by 3.5B. Any stock he tries to sell in the future would result in a Form 4 filing. Alerting the likes of Mazuma he is bailing.

Before when it was trading in pinko land, the float was essentially 2.4B - 2B - 75M = 325M shares. That is what the individual trader was trading against. That is what the various stock promotion forums were promoting against. How many individuals were playing in LLEG common stock? The answer is in the 10F subsequently withdrawned:

As of December 31, 2011, we have 81 shareholders of record for an aggregate of 2,456,721,088 shares of our common stock issued

There were less than 81 individual investors in this stock owning, and moving 325M shares. In 6 years, the number of individual investors was this huge number of less than 81.

The point... it's far easier for Bart to preserve as much cash on the balance sheet as possible, declare bankruptcy, and as the major preferred stockholder collect those assets. He can't sell his stock (convert the preferred, and dilute the common) without crashing the PPS. There is very little benefit for Bart to uplist for the purpose of recouping the value of his preferred stock. It has no market value he can sell against.