I'd be very surprised if shares haven't already been drawn down from the 15 million shares given to ATM as 'security'.
I imagine their agreement involves a limit on the rate at which GLN can issue stock to ATM, perhaps $1 million a week. This would allow ATM to sell off their stock piece-by-piece. The last thing ATM would want is to get the entire amount in one big batch at 10% discount to the recent stock price. i.e. it would be very hard to sell out at a profit, which is their business model.
I actually hope the process has already started; otherwise, the declines in share price we've seen can only be explained by other stockholders who are selling in anticipation of ATM getting stock from GLN.
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Last
22.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $106.3M |
Open | High | Low | Value | Volume |
22.5¢ | 23.0¢ | 22.3¢ | $143.5K | 637.7K |
Buyers (Bids)
No. | Vol. | Price($) |
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16 | 648521 | 22.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
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22.5¢ | 66062 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
16 | 648521 | 0.220 |
19 | 365869 | 0.215 |
34 | 904541 | 0.210 |
16 | 610435 | 0.205 |
27 | 648626 | 0.200 |
Price($) | Vol. | No. |
---|---|---|
0.225 | 4544 | 1 |
0.230 | 1125179 | 12 |
0.235 | 425368 | 5 |
0.240 | 321633 | 11 |
0.245 | 474120 | 10 |
Last trade - 10.42am 31/05/2024 (20 minute delay) ? |
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Last
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Change
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Open | High | Low | Volume | ||
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Last updated 10.55am 31/05/2024 ? |
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