LMFA Update – Short Interest and the True Public Float

January 25, 2018 at 8:07 pm 1 comment

We have received a number of questions about the public float of LM Funding (NASDAQ: LMFA) since yesterday’s press release announcing the master exchange agreement.  LMFA exchanged its $4,741,601.40 debt for 2,676,378 shares of its common stock.  Thus, the total shares outstanding for LMFA increased from 3,300,000 to 5,976,378.  However, according to the agreement the shares issued were not registered so it appears that it did not increase the shares available to be traded day to day, or the “public float”.  The public float for LMFA remains at the 1.01 million shares that existed prior to the exchange agreement.

Of course, this number is extremely important to investors and traders because it represents how many shares are actually available to be bought and sold each day.  This takes on even more importance given the number of shares of LMFA that have been sold short, with 41-51% being reported by the Nasdaq in its last two reports.   It is quite rare to see a NASDAQ listed company with a float as small as 1.01 million and it is equally or even more unusual to see a company with nearly 50% of its public float sold short.

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Entry filed under: Uncategorized.

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1 Comment Add your own

  • 1. Tim  |  January 26, 2018 at 1:52 pm

    Thanks. Any update on STVI appreciated.

    Reply

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