Regarding the float and volume:
First off, the volume is not exactly double counted. There are quite a few trades that are not, but most are. I estimate actual volume to be about 65% of the volume listed. Sometimes more, but usually not any less.
Second, about the float. It doesn't sound like the float has really changed from what we estimated long ago. The problem is that we were not counting many people's shares that were known to be long-termers (looking for about $5 or so). This included the advertising company, many friends and relatives of the company, Harry Timmons and others. It probably included Noble House....not real sure. But the bottom line is that we knew the possible public trading float was in the "up to 2 million range."
Now I don't think that all of these people dumped shares. Noble House....maybe. But the amount that realistically got dumped was nowhere near the volume we saw over the past few weeks. UNLESS, Quick Tent issued another 500,000 to 1,000,000 plus shares, which I don't think they did. I think there was some shares involved in the financing deal (maybe 100,000), but (A) I would imagine those are restricted and (B) even if they're not, I am almost positive the financing company would not go dump the stock in a company they just loaned $250,000 to and see big potential in.
Bottom line: I estimate the float to be somewhere under 1 million. There's still a strong possibility of a short position. I'm in for the long haul. You guys are doing great DD. Keep it up and we will all WIN!
CJacks
* IMO |
