IFFCO filed a 13D amendment including the 5.9 million shares that they purchased last week.
IFFCO now claims beneficial ownership of 51,300,464 or 21.1% of Legend.
Don't forget that this figure includes 17 million shares issuable upon the exercise of stock options. IFFCO obviously will not exercise these options if our stock price at the time doesn't warrant it. If they did exercise these options the company would receive $64 million !! Let's hope (and pray) our share price will be above $3.50 by Jan. 2010 and above $4 by July 2010 so they exercise the options. Otherwise, let them keep purchasing stock in the open market reducing the float. Win win either way for us.