You are very likely correct. The list of shell holders from NGLF was the list of folks whose shares were registered -- so those are the shares of the float and not a factor in this block of 475,000.
The only places these could have come from are (a) the holdings of insiders, or (b) the 5,425,000 shares (supposedly) held at the time of the merger by Sawarynski (the NGLF CEO). Now, there has been some doubt cast on whether Sawarynski actually held those shares or whether they were held by someone else (as GSIMAN suggests). No way to get to the bottom of that, but 4mm of them were clawed back by IDLM at a nominal price. That leaves 1,425,000, and those shares are very much eligible to have their restrictions lifted. I was hoping perhaps they would claw back some of those as well, but perhaps they didn't have quite enough leverage to do so?
News 
Market Data 
Discover 
AI
