KOO - without totally knowing the structure of EC and just knowing what I do, I would agree that EC should not be considered an Institutional Investor. I don't think they are. If they are, that would mean there are no other Institutional investors or any size to speak of. Try this.

Public Company (SH)   36%

General Public              48%   Including EC

Insiders                         4%

Institutional                  12%  not including EC

________________________

Total                            100%

Marketwatch states that the public float is 60% which could be the General Public and Institutional.