You asked "I can not get info about the insider versus public shares outstanding. Does anyone have solid information that lends credibility to the headlines?" http://www.sec.gov/Archives/edgar/data/1489077/000119312511163010/d8k.htm
Or those that he is getting financing from, If he does not have it all, are buying.Will then issue 8k when they have all they want.But its all guess work.
Title ofclass Name and address of beneficialowner Amount and nature of beneficialownership Percent ofclass Common Hong Yu1 3,280,000 22.1 %. He owns 22% so he needs to purchase about 11 million shares that remain publicly traded.
There are 3 million shares in the IPO....so he has only to take out those 3 million or am I wrong?
This guy has deep pockets. He would know what he's getting though and is not doing it to lose money.