I have made posts about how most holders would get unmarketable parcels of IMU. The big holders, though, would have got a big dividend. Jason Peterson, for example, holding 126.7m CGP shares, would have been entitled to, say @ .007 (mid-point IMU) about $88,000 in IMU. Could it be him selling CGP shares?
IMU plays a funny card in the CGP stakes, because if IMU falls, it means less money for CGP (if CGP is using IMU as an ATM, to take money out when it pleases or needs to), but if IMU rises, the market gets disappointed in CGP for having sold. It's kind of a damned if you do and damned if you don't situation. I believe CGP needed the money.
Where to now for CGP is hard to know. With a product launch soon, and revenues likely to come in, CGP should do ok. At the moment, we have a seller, but Peloton Capital's SI's would likely be fighting back. They are not in loss under 4c, really, because they will have the options coming through at some point.
Interesting times for CGP.
CGP Price at posting:
3.6¢ Sentiment: None Disclosure: Held
