Lianluo Smart Limited (LLIT) Social Stream
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$NEGG $LLIT - I have a Q to my fellow folks who've been on this for months; who poured through docs trying to make heads / tails along the way! Congrats on the 1:1 convert! Whew.Marvtime, published May 21, 2021
Curious. Newegg shareholders have a 180 day lock? They're sitting on 98% of the shares....
Our biggest problem regarding price right now is volume? All we're seeing is the same LLIT people, the 1.38%-ers, trading amongst ourselves. MOST of the equity is locked up. THAT's why the $30M offering was meaningful - it meant new liquidity in play
<180 days from now, Newegg shareholders can sell. They converted 5:1, so anyone's internal exercise price was also divided by 5. So, bigger spreads. IMO, MANY will sell - market gets flooded with new shares and DOWN we go. Yes?
So? What to do? Play amongst ourselves with the same ~4M shares until the lock ends? Sell and come back another day? I don't think price will do much until then. If anything, the shorts will build up big as we get closer to the unlock.