The reason behind the high volume for FAMH without an increase in price is that the company, through their investment banking firm, Alexander Westcott, put 5,000,000 shares into the market. The float was increased as a result of this from 2,000,000 to 7,000,000 out of 20,000,000 total shares outstanding. It is my understanding from Alexander Westcott, that this financing has been completed. The float will now remain at 7,000,000, as the company has raised the funds it needs for its continuing operations.
We should see what the real volume on this stock, and the price reaction to buying is, in the weeks ahead. As a holder in this stock, obviously I'm hoping that news and profitability will send this much higher.
David |
