Post by
sunrize on Jan 25, 2018 2:18pm
Float - not what everyone thinks
It has been commonly thought that the float is 17 million shares, however, here are more accurate numbers.
Total shares outstanding = 26,636,070 (not fully diluted number)
Shares in escrow = 8,940,395
Of these, 10% were released from escrow on 1/10/2018, the date of the listing on CSE
So shares currently in escrow = 8,046,356
So the float as of today = 18,589,714
But if you take the shares owned by the two principal officers, namely CEO Tony Holler and COO Leith Pedersen:
Tony Holler - 2,882,612 (10.86% of shares outstanding)
Leith Pedersen - 4,678,251 (17.63% of shares outstanding)
So both these guys own a combined 28.49% of the shares outstanding.
I don't think these two guys are dumping any shares now or in the next 6 months - just an assumption.
So the "realistic" float is
18,589,714 - 7,560,863 = 11,028,851
I view the realistic float NOW as just a tad over 11 million shares
PS: No wonder shares are hard to buy. I wonder how the sp reacts when the company gets out in front of more eyes.
Comment by
Stackinstocks on Jan 25, 2018 2:24pm
How do we know none of the shares owned by the CEO& COO aren't in escro?
Comment by
sunrize on Jan 25, 2018 2:31pm
Stackinstocks: Good question. I think the ones in escrow belong to the officers, but that is just my guess. If my guess is wrong, then the realistic float is even less than 11 million.
Comment by
sunrize on Jan 25, 2018 2:40pm
Sorry, meant "if the shares held by Tony and Leith are also in escrow, then the ACTUAL float will be just over 11 million". However I don't think their 28.49% is in escrow though.
Comment by
Stackinstocks on Jan 25, 2018 3:54pm
Hmmm above was from the prelimary prospect. The new one does not mention the CEO & COO in the escrow shares and instead states: Common Shares 8,940,395 33.57% (1) Options 850,000 27.15% Which doesnt add up to the owners shares, so I am really not sure
Comment by
Marty007 on Jan 25, 2018 4:08pm
Sorry for my newbie question but is it good or not ? Is it gonna influence the sp up or down ?
Comment by
Marty007 on Jan 25, 2018 4:50pm
A big thank you for your explanations !!
Comment by
sunrize on Jan 25, 2018 7:53pm
Speedybeedy: Bingo. Glad to see someone else thinks like me on this topic. The fact that SNN is working with a Tier 1 Canadian bank for financing the Canadian facility in BC means the CSE listing is mot being viewed as a negative. I agree about the options drama on the TSX. "The TSX? We don't need no stinking TSX?
Comment by
pienter on Jan 27, 2018 5:11am
And a to low float , you can not in or out , many gif it up and have not the time to wait.