Yeah it is definitely doable to proceed with an off market transfer especially when one has such a large holding and is situated in the top 20. However it's not always an easy process because 9 times out of 10 the bidders are wanting the stock at bargain basement prices. For example at the time when Wally wanted to dump the price of the stock was $0.01. Wally probably couldn't find buys at 0.009 or even 8 tenths of a cent who wanted to take up all of those shares so he decided just to dump his load on market because it was probably more profitable for him at the end of the day...
Well it was for me too - got some a 0.007 and already up nealy 15% hoping Wally has the runs and dumps more. I'm a watching and a waiting!