Why the obsession with the float?
I guess that the float could be important when one hopes to see quick moves of the stock when the float is only a small portion of the outstanding shares, but companies are valued on fully diluted shares, which probably equals the number of outstanding shares for MJNA, or 736M.
Regarding the actual float, if one assumes that the 265M shares held by HDDC are not part of the current float -- and this share count was reported as 260M in the report covering 2Q/11 -- then that reduces the possible float to approximately:
736M - 265M = 471M
Subtract the float reported in March of 363M, and that leaves about 108M shares unaccounted for.
There could be investors in the company holding shares that aren't part of the current float.
One final question:
What if the statement of the float as of March 31, 2012 is meant to indicate that there has been no increase in the float since then?
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