eddy, page-4

I was trying to do a quick calc on Eddys margin loans. Very roughly, he built up to 37 million shares, and when he was most actively buying (to prop up the price) the price was about $5. So he had value at that time of $185M. Now all those shares were subject to forced sale at an average of around $2, but left a $9M shortfall. This means he had a margin loan of $83M, implying a leverage of 45%. That to me is very high when its all one stock, and with such high numbers.

It is ironic too that Eddy now complains that the ABC price was subject to price manipulation by hedge funds/short sellers, when clearly he was artificially manipulating the price upwards all last year....