Marshall, thank you for the information. I am not currently short ACLY - but definitely taking a look!
1) RE: the 1.2 million warrants and options held by Mr. Geimer. Quoting from the Company's SEC filing: "The Affiliate's Warrants ... are exercisable until December 31, 1997" Page 28 of sec.gov I'm sure Mr. Geimer will not walk away from these warrants that are currently worth $18 million.
2) Good news for Mr. Geimer. The two year period starts from the date of grant of the warrants, not from the exercise date. This means he can exercise and sell all of these warrants this year. I would like to have his tax problem!
3) The 6/18 date was corrected in a previous post. The actual lock-up period was 90 days and expired at the end of March. To my surprise, 144s were filed in April for 126,250 shares at a value of $1.9 million.
4) I have also corrected the post that ACLY is not filing with the SEC. They are randomly filing under two names "ACCELER8" and ACCELR8". This appears innocent, my apologies to the Company ... but you know how computers look things up! :-)
5) BTW, Mr. Geimer exercised and sold 60,000 shares when the underwriters exercised the over-allotment. I guess he had to pay a few tax dollars last year.
6) I didn't mean to imply that Mr. Geimer would "jeopardize" his Company by "dumping stock". On the other hand, I'm sure Mr. Giemer's holdings in ACLY are a substantial portion of his net worth. We can also agree (even if you are optimistic about ACLY's future) that this is a highly speculative investment. Prudence would dictate that the insiders sell a substantial portion of their holdings, and this selling will put pressure on the stock price.
7) Migration is an interesting topic:
My understanding is that the ACLY tool will help convert VMS source code to run under UNIX and possibly NT. This is kind of like salvaging the engine out of a Model T and putting it into a Viper! There has been a revolution in both hardware and software architectures. And when a company migrates hardware architectures, they also want to take advantage of all the new software applications and tools. This would imply that the source code would not be translated from one environment to the next.
Regards, Bill |
