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Microcap & Penny Stocks : MDMI - Italian Bakery Extraordinaire! -- Ignore unavailable to you. Want to Upgrade?

To: Old Stock Collector who wrote (2388)	4/16/1999 1:11:00 AM
From: TraderGreg	Read Replies (1) \| Respond to of 3584

When I called Securities Transfer Corp, the TA, they indicated that, of the 47mm shares outstanding, 15 mm were in the float. That number can certainly be thought of as an upper limit and that's good because it is less than I thought it was. In any event, I guess it depends on what the definition of float is. THE float is Outstanding less 144 Restricted and indicates the number of TRADABLE shares of stock. Some then take that number and subtract shares held by insiders and, confusingly, call that "the float" as well. Others then subtract the estimated number of "tightly held" shares(whatever that means exactly) and call that "the active" or "trading float". With all due respect, while SI posters and lurkers represent a big chunk of the float, I highly doubt 5.7 mm shares is the entire float. Moreover, I am even more suspect of the 3.7mm "long term shares". Everyone, and I mean everyone, has a price. Michael Dell and Bill Gates routinely sell some of their holdings. On the otherhand, since the biggest volume day in the past two years has been around 2.2 mm shares, I am pretty confident that the "trading" or "active" float is a good bit under 15 mm shares, but I just don't know how much under. Does anyone know how many tradable(not 144) shares are held by insiders (Dana, the Shaws,etc)? TG