if mlnk and steel didn't conspire the price would have been way above $4. Steel using insider info bough the shares from MLNK instead in the open market. This reduced the demand for shares and increased supply. Can u imagine the price if steel bough in the open market. File a complain w SEC
Bobo, Steel couldn't legally increase their holdings by buying in the open market. They were prohibited by the limitations MLNK put in place in order to preserve their NOL. MLNK also needed cash, which they would not have received had Steel bought shares in the open market rather than from the company. Steel paid a premium to the market price in order to gain control of the company, which they effectively got by having WL the Chairman and 2 Board seats. The stock didn't go up because, in spite of Steel buying in, it's still the same sh1tty business. The business needs to show a turnaround. So, contacting the SEC will only create a chuckle from them on what a knucklehead you are.