wall at 44 cents - a theory, page-12

No, that's not right.

If you sell more than you buy, and the share price rises then you've lost money. This is always true if the difference between the buy-and-sell-price (0.5c) is smaller than the price rise (2.5c).

If he never sold any of his 2mil wall, then the market value would $930K today (2mil x 46.5c)

If he didn't buy any stock back (which I think may be the case here), then the wall cost him $17.5K.

Doesn't sounds like a money making exercise to me.