I've been following FreeCast ($CAST) since its Nasdaq direct listing in March 2026 and wanted to share something I think is genuinely useful for anyone interested in small caps — regardless of your opinion on this specific stock.
The false claim:
Multiple social media posts and AI-generated publications recently claimed that FreeCast CEO William Mobley (or his related entity Nextelligence) sold company shares to personally profit. This spread quickly in retail investor communities.
The reality:
FreeCast issued an official notice on April 24 denying this categorically. You can read it here: corp.freecast.com/notices/section-16-transactions
What actually happened was two separate, routine transactions:
Nextelligence (which holds a convertible loan with FreeCast) converted part of that loan into shares — standard convertible note mechanics
Nextelligence sold a small number of shares at $4, $6, and $8 to satisfy pre-existing financial obligations
The CEO received zero personal proceeds from either transaction.
How to verify it yourself:
Go to SEC EDGAR, search FreeCast or CAST, and pull the Form 4 filings. Form 4s are required disclosures of insider transactions. Read the actual filing — not a summary from a site you've never heard of.
Why I'm posting this:
AI-generated financial content is increasingly misreading SEC filings and publishing false narratives about small cap companies. FreeCast had to issue a formal corporate notice to correct the record. That's a meaningful escalation and worth understanding.
**Separate from all of this**, FreeCast also announced a national agreement with DIRECTV Multifamily last week — giving them distribution rights into apartments, HOAs, student housing, and senior living properties nationwide. The stock jumped 87% after hours on that news.
Do your own research. I hold no position in $CAST. Just sharing because accurate information matters.