Not so much recent seed money, as I don't think we've seen a cleansing notice yet for the recent 4c placement.
I would also assume the placement last year at 7c to strategic partners would be sticky holdings.
That really just leaves Jason Peterson (#1 shareholder) who has been selling recently and also original shareholders from the IPO. As we know, there's ~20M shares to come out of escrow, so I would assume that is Pershing selling. They've been sellers every time price has run a bit.
It may take a bit of work to get through all the escrow shares but the high volumes of last week are the best way to do that, so it's all positive in the bigger scheme of things.
Once we see Pershing stop selling, it should be onward and upward.
MRF Price at posting:
7.4¢ Sentiment: None Disclosure: Not Held
