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I am looking at a company's statistics on the OTC market and I'm confused about the difference between Float and Unrestricted shares. I thought that both are calculated using the formula outstanding shares - restricted shares. What is the difference?

https://www.otcmarkets.com/stock/DTII/security:

DTII security details

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From my understanding:

  1. Unrestricted shares = outstanding shares - restricted shares.

  2. Float = unrestricted shares - shares "held directly or indirectly by an officer, director, any person who is the beneficial owner of more than 10 percent of the total shares outstanding (a “control person”), or any affiliates thereof, or any immediate family members of officers, directors and control persons".

    Source: https://www.otcmarkets.com/files/OTCQB_Standards.pdf

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  • Do you know if this definition only applies to OTC or all stocks? – bakalolo Oct 8 '20 at 8:33
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    @bakalolo "Float" is somewhat ambiguous. It is sometimes calculated as outstanding shares - restricted shares, sometimes as outstanding shares - restricted shares - shares owned by insiders - shares owned by large shareholders, or even outstanding shares - restricted shares - shares owned by insiders - shares owned by large shareholders - shares owned by other public companies - shares owned by pension funds - shares owned by sovereign wealth funds .... In other words, whenever you see "float", you should look for its definition. – Flux Oct 8 '20 at 10:31

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