Dec. 16 at 7:30 PM
$BLMZ To reiterate, Class A from form 144 + CEO Nakade holding all 5M class B, means total shares outstanding = 51,977,265.
If all affiliates sold the full 2M each shares as stated on 144s (via private placement, NOT Market Sale), then insiders own 42,634,286 shares/82%. If the full 2M each weren't sold, this percentage is greater.
White Lion LLC, per the BTC agreement, can hold 9.99% of outstanding shares.
The SEC strictly prohibits insiders shorting their holdings. White Lion are strictly prohibited from shorting per the BTC agreement. Claims to the contrary are poorly thought out BS.
Moreover, insiders selling more than 5,000 shares OR
$50K in value must file a form 144 i.e. any dilution would be forewarned.
On the 6-K dated 09 December, BLMZ clearly stated they will appeal.
Appeals through to the final decision can easily take 6-8 weeks. No quick fix.
Pumpers will try lure victims to create exit liquidity. Bears will try force longs to sell so they can cover their shorts.
