The majority of the Medivolve management people are also working for F&M. So, if there was a power struggle, many of these people probably changed. As per Time Shelburn gone, that is a good step. No honest CEO wants that distraction. Can you imagine, if he wasn't let go, these shorts probably post Tim's past over and over calling the whole company fraud? I and many others probably be mad if he was not removed.
As per who sold all these shares in the last 4-5 weeks. It can be anyone, starting with the people from the last private placement at .25 cents. Yes, legally they cannot sell for 4 months, but they do it all the time. The private placement money was not from Canaccord Genuity. The money was raised was from 42 different people https://www.sedar.com/CheckCode.do. Anyone could have participated in this, including F&M people.
Why would they sell? As soon they got confirmation that they are part of this private placement, they short-sell and double their money instantly. Then there is the possibility that any one of the people who received shares as when Medivolve brought them and paid with shares.
Also, I see people are shorting this stock. Here is the reason: Most of the investor community does not even know about Medivolve. You can see that from how many people are posting here and on CEO. Most of the time 10-30 people compared to other companies 300-1000. That is the reason Medivolve can be manipulated easily.
Here is what needs to happen:
- Medivolve needs to change its PR firm.
- Hire an investor relation to get more eyes on Medivolve.
- Start advertising collection sites on National media to get more clients.
- Hire Qualified CEO for collection sites with marketing experience.