Lexagene Holdings Inc LXXGQ

RE: Surprised at the low volume

[letsdoit]

Surprised at the low volume today considering the good news RE: manufacturer's

US $214.7 k

CDN $186.3 k

[iamjunobaz]

It's because there are very few people that are looking to sell Theres circa 92 million shares and only a few 100k get traded Thats like just over 1/2 a per event of the total stock  That tells me 91.5 Million shares are being securely held What does that tell you?

[letsdoit]

I realise that not many are selling at the moment, I just thought that more people would be buying but if you think about it then it's mainly "current" Lex holder's who get the good news first through  the community, I presume (and I hope) that Lex will get mainstream media attention as soon as it launches properly so not long to now hopefully.

[ragb7002]

It's because Cannacord, Regan and Rebeck own about 60% of the shares. That leaves very little free float

[letsdoit]

yes, I know that but surely there are still millions of shares available for the general public and institutional investors (when they jump in) to buy?

[iamjunobaz]

You can only buy a share if someone is selling a share,there is NOT a stock of shares sitting in a shelf

[Investor62]

from where do you know they own 60 % together?

[iamjunobaz]

Canacord own nothing!!! Exchange does not allow institutional investors 

[letsdoit]

I'm going off what ragb has been posting for the last few months regarding the Cannacord relationship with Lexagene but I can't see how Cannacord don't own any stock? unless they're handing out millions of dollars to Lexagene just for the fun of it and don't want anything in return?

[ragb7002]

You can't be a long term stockholder. Cannacord supplied the first 6 million dollar financing and the next two. Pay attention. How do you think Rebeck got the job as president??

[iamjunobaz]

Let me explain how a bought deal works Company issue shares to broker for a set amount of money eg 6 million shares issued by Lexagene at say $1 so in a bought deal Canaccord would pay Lexagene $6 million for the 6 million shares less an arrangement fee of circa 6% (nice work) $600,000. Cannacord then offer the shares to private investors through the exchange gambling on the price they can sell

[letsdoit]

ok thanks for that, so, if they haven't sold many of the shares to Joe Public then ragb is correct, they're a major shareholder, if they've sold all or most of them then they're not, I'd love to know the answer to how many they've actually got rid of, guess we'll never know aye

[iamjunobaz]

FFS they have all been sold to the public,they are in public ownership,you,me etc Thete are no shares in a cupboard,Canacord sell all the shares during the bought deal to the public,they can't hold onto them 

[iamjunobaz]

You can see how many shares are in circulation on any exchange,currently it's just under 92 million in circulation 

[letsdoit]

92 million in circulation and it's still trading under a dollar that's quite freaky isn't it, wow, crazy world man, thanks for the info junobaz

[ragb7002]

Oh! Check the first million bought deal