RE:RE:RE:Damn1212: Your logic and deductions seem to ChGuessbetuck11:
I think Damn1212 may be right about the private sales being dumped.
To address your argument:
1) Private block trades DO NOT need board approval. The agreement as described in the May 25, 2020 release only says that a block trade cannot results in the buyer acquiring more than 2% of outstanding NXO shares. That’s it…no other restriction. What Damn1212 suggests, that 3DB is using a 3rd party to dump shares and short-circuit the 25K/day limit, is possible according to the agreement. I agree, there “SHOULD HAVE” been a restriction like you suggest. This block trade allowance is an embarrassing loophole in the agreement and management should have caught that.
2) It should be obvious by now that share price is not the top priority for 3DB. They are dumping as fast as possible. They did so when share price was above $1 and they are selling just as furiously when it’s below 40 cents. When the price drops, they do not slow down selling in any way. They are relentless. They want whatever money they can get out and they want it now.
Looking at the selling pressure NXO stock has been under since 3DB ramped up their block trades suggests these shares are being sold off in the open market. We may never know for sure, but IMO the D bros figured out this loophole in the agreement and are exploiting it.
On the positive side, at this rate 3DB will be done soon. Better to rip off the band-aid fast.
Cheers.
ChGuessbetuck11 wrote: Two issues
1) the private sale has to be approved by the board each time a block is sold
2) why would D Bros drive share price down knowing they have 26 million shares left to sell if they need money so badly? Also using your math the margin is eroded and your theory is junk because nobody can make a profit by doing this after the share price drops lower