FD float shrinksMy spreadsheet tells me that Selwyn had 172,580,380 shares on a fully diluted basis in August 2007.
Now the company tells us that as of February 2008, the fully diluted float consists of 158,758,326 shares.
That is a decline of 8.1%. Strikes me that options are not getting exercised. Would you exercise options at a loss?
So when Canadian capital houses sell down Selwyn in anticipation of the next keep-the-offices-open financing, should I short the stock? It would be a covered short, well covered.