I think you're desire to be right about something is clouding...

I think you're desire to be right about something is clouding your judgement. Either that or your simply don't know the basics about the market. Shares on issue has nothing to do with the number of holders e.g. you can have 5 holders that combined hold a million shares or 100 holders that combined hold a million shares.

Now, since the number of holders needs to be included in the annual report let's take a look at what each company reported in FY23:

ECS - 4,403 holders:


CAN - 26,220 holders (yowzers):



Looks like CAN has set another all time low today, thats 26,220 holders that are currently underwater on their investment.