Badshah, I estimate EHGO have 0 to 8m shares left, after that we've cleared the overhang for a month or so. Price may actually stop dodoing for a while.
On the unlimited trading packages, individual trades are free, I'm pretty sure its those monkeys who do it, otherwise algo trades making 10p a time wouldn't be so profitable.
Fred, I cannot claim to be an expert on holdings regs, but I suspect that is not the case. I believe if the shares were being bought by EHGO-controlled entities, they would still have to provide a holdings declaration.
They could possibly mask this (it has been done in the naughtier dark markets), but it does raise questions of ethics and conflicts of interest.
It's probably easier to think of it as a really inefficient method of raising funds for business with a negative cashflow, as we have all come to love on AIM.
Rightback - From the RNS, two days ago EHGO had 27m shares left and I don't think they had any further authority/ability to release more shares. Yesterday 23m shares traded, today 27m traded hands.
It is plausible EHGO have already sold their allocation, or will shortly. This may result in a technical long position where the market can re-stabilise and possibly rise (no overhang = nothing keeping the price artificially low).