As I have repeatedly stated, my problem with SAFC is not the OS itself but how they have expanded the OS. Trickling 5-15 mil shares a week that get unloaded into the float immediately with no information about the expansion before or after it occurs.
They are slowly dumping without bothering to pump because the expansion is being done on a trickle.
While not mentioning the other stock by name, I specifically addressed the difference in how the OS was expanded in previous posts. Upon the vote to expand the AS and OS vor a private slae of restricted stock, an 8-k was filed with the SEC and a letter was sent out to shareholders. Again, when the increases occurred, an 8-k was filed with the SEC and a letter was sent out to shareholders.
One company has been sneaking shares into the float which almost means those shares were given to third parties and were then being sold into the open market to benefit those third parties while the other is a legitimate and transparent way to raise capital for the company. In fact, the company insiders were required by company bylaw to purchase additional shares to maintain a minimum % of the whole company. This was also addressed in the 8-k's and the letters.
I am on the sidelines with SAFC. What I have I will let ride until I am green--if that ever happens again---but the only way I would ever end up with more shares of SAFC is if they were given to me.
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