OWHC. I missed 1.03M tightly held. Float appears to be 667K IMO
Here is how I typically determine the float. Many times I have found several sites and several different quoted "floats". Hence, I typically look at the SEC filings, at the 10K. IRs typically refer to the trading float as what they consider to be loosely trading shares. If they believe an investor holds shares and is likely to not trade the shares because they have held them along time they consider the shares "tightly held" and do not include them in the float. Unless the shareholder holds more than 5% of the OS they can be freely traded without filing "144"s. From the 10K the OS is 5.58M shares. This is the total number of outstanding shares. Then I look at the 10K for the shares held by officers. There one has 4.12M shares, but, see note (7) which accompanies the figure. It says that 210K shares of common B shares are included in the calculation as though these special type of common shares were converted to normal common shares. (there are only 210K common B shares total). The thing here is they really don't count as part of the common 5.58M shares. If you count the common B shares then the OS would be 5.58M + 210K. Hence 4.12M - .21 = 3.91M shares held by the officers. The OS did not change between the 10K and the 10Q nor is there any indication that officers acquired more shares. Hence, 5.58M - 3.91M = 1.67M float.
Some folks hold more then 5% -- I missed that. Agape has 550K. These matter.
P Walker has 41K shares, the rest are warrants that have not been exercised to buy stock at a considerably higher price than today. These shares don't really count.
Cheyenne Properties has 480K shares. These matter.
Also, on 8/12/2002 Ocean West sold 300K shares and 3M warrants for $13,000 or about .043 cents a share. In fact, the shares appear to have been sold at .01 cent per 424B1 filing. Further it appears the shares are free trading with no restrictions. It also appears the 88K warrants that were exercised is what made the average price .043 cents. It looks like a total of 388K shares were sold per the 424B1 filing. Looks like those 388K shares sold on 8/12 inflated the float by 388K by themselves.
Looking at the 424B1 Monogenesis will retain the 18,100 shares and 181,000 warrants which were not distributed as well as the 88,800 shares acquired upon exercise of warrants as compensation for distributing the shares and warrants to its shareholders. It expects to sell the shares periodically and may also exercise or sell the warrants.
Monogenesis purchased the 300,000 shares at a price of $0.01 each and the warrants, most of which are being distributed to its shareholders, at a price of $0.001 each. On the date of this prospectus, Monogenesis exercised warrants to purchase 88,800 shares of Ocean West.
Less Purchase Shares From Price Paid by Total Ocean West (1) Estimated Value (2) Monogenesis Estimated Value -------------- ------------------- ------------- ---------------
388,800 Common Shares $234,058 $10,104 $223,954
Before you criticize a man, walk a mile in his shoes. That way, if he gets angry, he's a mile away and barefoot.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.