OTCQX:FSXLF - Post by User
Comment by
Tadon Nov 23, 2020 6:55pm
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Post# 31957583
RE:What the He// happened...
RE:What the He// happened...GerBear1967
One possibility is this ...... "Anonymous" was the main culprit of the last hour's selling ...... typical .
So ..... some one with a large stake in the IPO back in April had exercised all their warrants at $2.00, They had paid $1.10 per share .....and then sold out enough shares in the $3.00 - $3.50 - or even $4.00 range to pay for the warrant exercise to have the same amount of shares for the Leviathan spin-off. They hold through the date of record. Now say they had previously expressed an interest in participating in the Leviathan financing ...... and found out Friday, or this morning, what their allocation of the Leviathan financing was going to be, and started selling more shares today to pay for their shares of Leviathan at $0.50 . I'd be doing the same thing, getting most of the initial capital out ..... playing with house money ..... nothing wrong with that .
According to the FSX news release, the allocations for shares was cut back for participants, even though the raise was double the originally intended $5 million. Once Leviathan is listed and becomes free trading, there may be some initial buying interest as people try to top up to their desired positions . Just wondering ..... when Leviathan is listed, apparently in December, there won't be any shares for sale for about four months .... or was there no standard four month and a day hold on the $0.50 shares issued in the financing ? I did not see that hold period mentioned, but I may have missed it.
GLTA !!