Post by
deepoil0808 on Dec 17, 2021 11:46pm
Armistice did not file the Alternative Monthly Report in Dec
A institutional investor that owns more than 10% of the current outstanding shares of Poda must file an Alternative Monthly Report each month with the CSE Exchange. The latest reported that needed to be filed was by December 10th for any 10% owner, for any activity done for the month of November 2021.
Previously on the November 10th report, Armistice had filed this report stating that as of October 31, 2021 they held 4,772,000 shares of Poda or, 8.56% of the current outstanding shares of 55,747,229.
Although their ownership dropped to 8.56%, they still needed to file the report, because on the previous report, which was done on October 10th, they were at 12%. It was to advise the authorities that they have dropped below the 10% level and did not need to file further, otherwise the authorities would not know. .
In consulting the CSE Exchange, there was no report filed on December 10th by Armistice for the November 2021 transactions.
It is therefore difficult to say how many shares they still hold of 4,772,000 that they reported holding on October 31, 2021.
In December 2021 Armistic added an additional 7,500,000 shares to their pile (coming from the August PP being unlocked in december 2021).
ASSUMPTIONS:
Lets assume that they only hold 7,500,000 shares (the ones unlocked from August PP) then it would represent a 13.45% holding in Poda shares (7,500,000 / 55,745,99 shares outstanding).
If on the other hand, they still held on to their 4,772,000 shares from October 31, 2021 report then their total would be 12,272,000 shares (7,500,000 shares + 4,772,000 shares). This would give them a percentage ownership of 22.01%.
Either way Armistice Capital will have to file an alternative monthly report by January 10th to report their holdings of Poda because their ownership exceeds 10%.
Personally I beleive that they hold 7,500,000 shares of Poda (being the shares unlocked from the August PP).
Why does it matter as to how much they own?
Because Armistice was a significant seller so a liability for shareholders, so having them out of way will remove the selling pressure.
If Armistice only owns 7,500,000 shares, then it is an easy ride to $ 2 per share, which was the cost of their financing. A hedge fund does not give away free money, they was a significant return for the risk. I am assuming no return at all, and only giving them back their capital at $ 2 per share.
My personal opinion