Dumpoff Schedule If the private placement is successful there will be a series of overhangs for AXI's stock price. All of these are free trading in 4 months:
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1) 2.4 million shares will be dumped anytime the stock is near 21 cents.
2) 12.5 million shares will be dumped anytime the stock is near 24 cents.
3) 1 million broker warrants will be exercised and dumped when the stock edges over 24 cents.
4) 2.4 million warrants will be exercised and dumped when the stock edges over 30 cents.
5) 6.25 million warrants will be exercised and dumped when the stock edges over 40 cents.
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That's 24.5 million shares/warrants, a Chinese wall that will prevent the stock from rising for 2 years, no matter what happens with the feasibility study. These are not long-term institutional investors, these are short-term players who will dump the shares at the first opportunity. Along with year-end tax selling that's going to be a lot of selling pressure in November and December.