I think it’s more relevant when it’s a tinpot scammy lifestyle...

I think it’s more relevant when it’s a tinpot scammy lifestyle “explorer” that trades at $0.002 and has 3B SOI.

If it ticks up to .003, the MC increases 50%. To go to .004, that’s a 100% gain (in that example). That’s where high SOI becomes an issue: crap companies trading at very low SP and valuations with high SOI force major rerates by simply moving one or two ticks.

Don’t forget that super low SOI can be as much of a pain as high. I’m in MRZ and it’s very low SOI and tightly held. Makes it impossible for anyone to buy a decent position. Takes months if at all. Bugger all for sale so people tend to ignore it or lobby for placements.

I agree that it might be slightly better if AUT had lower SOI but like I said, it’s tightly held so 66% is not for sale (as demonstrated by the T20 stability since August). Having that as a factor in determining the investability of a stock in this corner of the market isn’t the best idea IMO.

Anyway, you’ve been doing this for long enough to know this. Just thought I’d offer my views.