FRX vs NOR vs ZIP, page-41

@dukes
Total # of shares = 188,197,501

Check page 50 of the Annual report and you will find that a good portion of the total shares are locked up ( Escrow ).
125,475,000 ( 16.06.17 ) + 875,000 ( 19.03.16 )
This effectively means there are only 61,847,501 tradable shares on issue here until the other shares are set free.

Page 51 of the Annual, you will see that 159,131,599 shares are controlled by the top 20 shareholders. ( That's 84.55% ) Which leaves us with a free float outside the top 20 of 28,878,593.
You raise a very good point regarding liquidity, as you all can see - 28 million shares aint a lot to go round, but enough to make this stock very interesting indeed. !!!

All the shareholders who participated in the IPO paid 20 cents, that's why not much supply below this price. Well done to all those who managed to get a few below 20. Anything below 20 cents here is about as no-brainer as it gets.

Have a look at the chart, October 7 and 8 she bottoms out. Who was the buyer ? None other than Jefrey Ong. He bought 80,676 shares on the 7th Oct and then he stumped up for another 100,000 shares on the 8th ! - he clearly knows a bargain when he sees one.

He already had 6,633 shares held directly, that # is now 187,309. - which doesn't show up in the top 20 obviously, but we may as well add them to the top 20 lot, given he controls the number 1 spot with 96,000,000 shares ( Which are all locked up in escrow )

So liquidity ( Supply ) will only be realised at prices above 20 cents, As the price climbs, we should see a steady increase in supply, which will satisfy increasing demand as the market slowly catches on. If the price declines below 20 cents - supply will dry up and the smart cookies will soak.
I think todays action was a case of some IPO buyers taking advantage of the stag profit they never had a chance to take on day one. As shares are transferred from weaker holders to stronger holders price will consolidate. I'd like to see the gap back to 20 filled, but I would be surprised if this goes back below 20 cents - if it does - I'll be waiting !

I'm heading overseas next month, so will give Flexiroam a workout and report back on my experience.
Cheers.