Obviously small shareholders are not selling millions of shares to IFFCO. But neither is the company. There are many large shareholders involved in this company. With over 220 million shares outstanding, a fund or individual could own up to 11 million shares and still be under 5% and not have to file.

Any shareholder that needs to sell anything sizable knows that there is a willing buyer at 50 cents.

Furthermore, the company has plenty of money in the bank and the last thing they need to do is sell stock to raise money.