Good question Fung. A trail should exist and does with respect to those transferred via the TA. But, if Hodges did as Treffry (as well as Marco once did) and utilized a trust or binding doc in which the shares are beneficially owned by those that "bought in" to the beneficial or fractional ownership, then only Hodges, Treffry, Marco and those that paid them to be a party to it would have the actual details.
My guess is that Hodges did indeed sell the shares Kevin gave to him, and quite possibly in a fashion described above. As far as value for the shares, those that follow Hodges have always been sold on a potential value in excess of $.80 per share. Much less than Marco's original $1.54 per share and Tramps $40 per share, but still an insane valuation regardless.
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