Here is a post I made last week which was removed from Raging Bull. SO this is a repost from a post that was deleted last week on the stock activity ... Most should remember it.
Well, I just got through doing the stock structure and here are the totals to date.
56,856,032 Issued Outstanding per TA
2,280,000 Original Float
2,686,143 144 Filed
__ 442,832 OPTIONS
5,408,975 Free Trading Float
7,615,944 Total Trading volume Since 12/8/99
2,206,969 Difference between float and trading
Now Cyber-Quest LTD has 2000 a day restriction and Williams 800 according to company so if you also back out the options and the difference in 144 restrictions, we have 1,543,274.
Funny figuring a 20% dilution factor on 7.6M as the oversell it is 1,599,348... hmm ... That is a 60K difference, which means when a 144 is filed it is sold immediately. No 144 is held ... Now I do not believe that for a minute.
Churn Double Check: Now if you take the original float that is 2,280,000 x 2 (everyone bought and sold no one held) = 4,560,000 in volume and then add the 144 of 1,543,247 x 2 (bothsides of the trades)= 3,086.548 would equal a trading volume of 7,646,548 which is only about a 30,000 share difference x 2 (Both sides of the trade) is 6OK.
How many of the 144 filed still have not sold but merely got the legend lifted?
I just do not believe all the 144 have sold all their stock ... The company has stated the major 144 holders are lifting restrictions but are not selling. I have confirmed that through two of the 144 which accounts for 1,278,186 and the restrictions and options makes that 1.9M roughly of the 2,686,143, which means roughly 786K has been sold into the float. This matches closely the above math of 1.5M above when both sides of the trade are figured (786 x 2)
And the OTCs can not be shorted on 144 filings or manipulated based on 144. Yeah RIGHT!
2,077,400 has traded since 6-22-00 which is 28% of the volume since December 1999 in the last E weeks between .43 and .88
Just my opinion but this is BS!
Gary Swancey
I now have the figures from the transfer agent and it is very interesting ... Stayed tuned.
:-) Gary |
