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Technology Stocks : Log On America, Inc. LOAX
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To: harryl1 who wrote (199)6/16/1999 2:26:00 AM
From: Glenn Petersen   of 353
 
Actually, these shares were only registered and cannot be sold for a twelve month period without the consent of Dirks & Company. If they were already included in the float, LOAX would have already settled to its eventual level in the $4-6 range. From the S-1:

This prospectus also relates to the registration for resale of 1,896,116 shares of common stock and 1,095,000 shares of common stock underlying warrants for the purchase of common stock held by certain selling stockholders identified in this prospectus. These shares may not be sold for a period of twelve months from the effective date of this prospectus without the prior written consent of Dirks & Company, Inc. We will not receive any proceeds from the sale of these shares.
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