Back when Joe had his last conference call, daily trading volume was about 120,000 shares.
And Joe stated in the CC that part of the reason for the secondaries was to increase trading volume. So even Joe calls it "trading" not "selling" So, you are sort of correct.
Now, in the last 10 trading days volume has fallen off to average 30,000 shares per day with some days not even hitting 20K. As trading volume becomes more and more tepid, you are more and more correct...."no one is selling". And there is even MORE "no one is buying" than "no one is selling" which is evidenced by the share price declining by 35% in the last 6 weeks. So, KY, you are sort of correct.
KY, its an interesting month this December, HawaiiJohn agrees with me and I agree with "KY" and Mont hopes your cruising for partners is successful. And Joe thinks he runs a chain of Titty Bars.(Bill Wexler has talked before about Joe and Titty Bars, BTW) Holiday Cheer abounds!
Mont, as an interesting side bar to your note on the short interest, the absolute number of shares short last month is the SAME number of shares short in Nov. 2002. The difference? In 2002 the short interest was 22% of the float and was one of the 20 highest short interests on the NASDAQ.