Excellent post Stephanie...........
I agree with you that management, indeed can not sell at this juncture. I believe the regulations specifically restrict insiders from selling 144 or restricted insider/control stock into the market after they have done a reverse split. I believe that they are restricted for 2 full years from selling any stock in the open market, at which point they must follow the 1% rule as earlier described on the thread.
In my opinion, this is a very positive indication for MEGW. First, we know that at this point the outstanding and the float will no longer be diluted unless for very good reason. Second, we know that the insiders will not sell(or cant sell), so the float will remain at the current level.
By the way, i never got an answer from anyone regarding the float count. Does anyone have a real number here? So far, ive heard 3 different figures. 300k, 200, 175. If anyone knows the actual figure, would they please speak up.
As far as other announcements due out, i have not heard anything just yet. Im sure that many of you are getting more information from your sources than i am, so i would appreciate if you would post of any developments you are aware of.
At this point, any additional positive comments from the company should propel the stock to higher levels. It certainly looks like MEGW is doing just fine right now, but never hurts to make a little( no a lot) more.
Good luck all,
Brodway. |
