Steer Technologies Inc V.ARGH

Oilprice.com Medtronic Online Solutions shares

[SWInvestor1]

we know that oilprice.com owns signifigant shares in FD ($8.2M), any idea when the restrictions will come off? My friends at the big hedgie want know.

[thorgb1]

Is this the new angle? SWInvestor1, spreading the FUD since Feb 2021. I expected we would see an uptick in the rhetoric leading up to the theoretical unlock mid month, and right on cue the bobble head twins reappear......BTW, is EddieBooBoo still around, or did he tuck tail and run after being wrong from $4 to $60? 

[SWInvestor1]

your right I've only become interested since I started shorting in later January, through February

[SWInvestor1]

you must be adding to your position like crazy during this pull back

[deleuze68]

15% will be released March 26th, so120,000 shares or about $3.6 million worth at this valuation, so lots of incentive for them to continue a big push to keep the share price elevated.

[deleuze68]

"The common shares issued pursuant to the fee payment will be subject to a lock-up arrangement for a period of 27 months commencing upon the date of issuance, with an initial 15 per cent of the common shares being released nine months after the issuance thereof and an additional 15 per cent of the common shares being released every three months thereafter and all remaining common shares being

[SWInvestor1]

thanks, do you know what price the shares were issued at? 

[deleuze68]

For accounting purposes, "These increases were primarily attributable to the deemed cash value of share-based compensation paid for services provided by Medtronics to the Company in the aggregate amount of $7,632,700 for the YTD Period, compared to $nil in the Prior YTD Period." So $9.54/share

[deleuze68]

I should add too that I don't think Medtronics will wait until March 26th to sell. As they are not employees of Facedrive they can short the stock leading up to the expiry period to lock in their gains. It is now close enough to March 26th that I wouldn't be surprised if they have already shorted a position equal to the shares that will be released from lock up. They'll then use the

[SWInvestor1]

that would be sizeable short if they are covering 15% of their total allocation 

[Assucker]

Only issue is that it is tough to borrow shares. I was only able to get ahold of just over 1000. I knew it would be just a matter of time before people realized what they had bought into. Or perhaps they did know and just heard on a little too long. 

[thorgb1]

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