Pej ...
You are correct on the flow through (FT) shares.
IBK, for example, might be the broker. If the private investor wanted to get in on a future (FT) placement by SPQ through IBK, they could do it through Neil Novak's "President's List". I am aware of such an investor who has had close contacts with both Neil and Jim Voisin of UC Resources.
If this was to happen, and the investment environment looked really good for SPQ, I'm certain that "discussions" by active shareholders with Neil could facilitate the acquisition of FT shares.
Snug