Ann: Application for quotation of securities - SPX, page-17

It is illogical to submit a sell order for 200 million shares on a stock that trades on average circa 10 million, and does not have the value demand on the buy side to support the transfer of 200 million.Possibly up to 20 million shares (being generous) would change hands based on a sell price of 0.9 cents based on the current buy order book.

Then a sell wall of 180 million shares at 0.9 cents would be left. It would make better sense if one wanted to offload the 200 million shares to sell in parcels to try to minimise impact on the share price and cause it to fall.