Sorry about the triple-posts - but the ADD control was sluggish.
Meanwhile it appears that QAD has fewer than 88 million shares. @5.6 it's capitalised at just under $5 million.
Check for yourselves.
So it seems like a good punt, but what do the voluminous sellers know that I don't?
QAD
quadrant iridium limited
secret iridium numbers revealed!, page-2
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