Steer Technologies Inc V.ARGH

Restricted shares

[SWInvestor1]

Can anybody confirm that restricted shares can start to be sold March 15th, 2021 and will be dripped (or flood) the market in the next 18 months

[greendaze]

There are 7plus million shares that insiders own that are unrestricted and you don't see them selling much if any . See : Canadianinsider.com  . When the rest become unrestricted some assume that insiders will crash their own company or they want you to think they will . This is absurd in the extreme. It's just another shorter strawman . Insiders are not that stupid . 

[deleuze68]

It's not just insiders. 13.5 million shares will be released from lock up on March 16th. Insiders own about 65% so even if they don't sell that's still 4.7 million shares, or more than 10x the daily volume, that will almost guarantee be dumped. One of the shareholders is currently suing Facedrive because he didn't agree to the lock up and Facedrive won't release his shares. You

[greendaze]

Insiders ownership is 69.98% . Institutional ownership is .14% . Why compare fd to Uber and Lyft ? Why are none of the insiders selling big lots ? Is it never payday for them ? We know they are already rich . My guess is they are looking for a take over . With the shares they hold , they wouldn't even have to ask nice .  Besides all that I own some Lyft and Uber . Bought them and

[SWInvestor1]

And they are releasing 10% everymonth after correct?

[humanist945]

I will bet anyone here $1 million the shares are trading below $15 by year end... and if I had to really guess closer to $5...  but there will be some people that make money trading it along the way... the two founders are multi billionaires on paper, how do they not try and sell a bunch...  with weed space heating back up, that will probably be in their next press release... 

[Assucker]

I agree, just wish there were shares available to short this scam. This one would be an all in to the bottom. 

[deleuze68]

I believe it is 15% every 3 months with the last 10% to be released 18 months from March 16, so: 3/16/2021 - 15% 6/16/2021 - 15% 9/16/2021 - 15% 12/16/2021 - 15% 3/16/2022 - 15% 6/16/2022 - 15% 9/16/2022 - 10%

[humanist945]

Where is this actual restricted share information? The disclosure around this is so convoluted. They may be behind on their SEDI reporting as well... I do see the marijuana promoter that joined the board has been selling a bunch...