I'm not certain that would be fair....according to RvH poll we retailers here on Agoracom hold 60M+/- at last count a year ago...I would suggest that has increased somewhat since then (at least I know my count has increased).

Keep in mind that most institutional investors cannot participate in any stock that trades a) on the venture exchange and b) below $3.

Therefore, as far as we know, there are no large institutional investors, other than Pinetree and IBK whose holdings are fairly well documented on this forum.

I would suggest most of the rest of the shares are held by retailers, or, are quietly being accumulated by some other investor that is not restricted by the above.

IMO