RE: House 1 HoldingsThere are so many things that are difficult to understand here.
For instance, I was asked just now if that 'change of the nature of ownership' meant that it was exercised.
I have to say that I always thought that that is exactly what it meant --- that it was actually exercised.
However, like I also said the Plato CEO (I can't describe to you how classy this guy is btw) said that there were no warrants exercised by Joe when I told him that at his company there was a 'change in the nature of ownership'.
So my instinct says that you are right, but the fact at PGC it says differently.
What is remarkable to me is that the companies themselves do not actually know how many Joe has left because when the total gets under 10% he does not have to SEDI them.
The only way you get a perfect understanding of Joe's holding is when the company phones Joe and says "I have a client that would like to buy your remaining shares." and Joe says "I don't have any more of your shares."
This is exactly what happened at Plato and it is exactly how the CEO there knows that Joe is gone.
I have also been trying to time the end of Joe at CDO and there were three times already that I thought he was gone, only to have him crash the stock again and again. No one is selling CDO but Joe, and then others naturally follow. The last time Joe crushed CDO last week the stock was .035 and he dropped 1.5 million down on the bid and took it to .025 and then fear sets in and recovery from that moment is difficult.
So timing Joe's exit is difficult and the aftershocks are worse still.
But you cannot hope to time it perfectly. You cannot. There's a saying in my favourite stock book and it says 'you can't wait for confirmation to buy at the perfect moment, because by the time you get your confirmation it is already too late."
I like that thought because we are all so extremely timid at a stock's low point and extremely courageous at its highs and through out the history of time, we are just gonna f that moment up all the time.
I think the more valuable point here rather than counting his every share lower at this point is to know that his numbers are dwindling extremely rapidly with an estimated 5 million sold this past week.
What the exact total is will remain a mystery. We pushed through a refreshing ask of 2 million shares at .18. That is a wow moment. Plain and simple.
So is it 2 million? Is it 1?
I don't think it matters at this point. It is workable. That is all that matters. We are in the ball park of the bottom and the end of the pain.
Now is the time when we all have the instinct to get that final penny deal when in a range from 1 dollar down to 17 cents, it should be the time to throw caution to the wind.
But that is not how we are wired.