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Microcap & Penny Stocks : New Sky Communications (NSKY)
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To: myturn who wrote (2163)8/31/1998 6:04:00 PM
From: Donster   of 2601
 
Reynolds files to sell some of his formerly restricted shares. So what? Read Reason's explanation in post #2157. Having not asked Reynolds specifically about it, I can presume he is reporting the possible sale of a minor portion of his company stock holdings, as required, to be in a position to get some compensation, if and when he desires. Bullish and common sense.

Remember, that 2 million represents a very minor portion of the approximately 100 million shares that were previously restricted. But you don't see 100 millions shares being filed for sale by those holding them. If (and it is a BIG IF) Reynolds should decide to sell that small amount of what he probably owns, it could only be considered long overdue compensation to a non-salaried company president.

Projecting Reason's math a little further, lets presume NSKY goes to where I believe it will (based on DD) after the first project announcement--15 cents/share on the low side. If Reynolds sold that 2 million shares at .15, he would receive a gross of $300,000. Divide that by the over five years he has been unsalaried and you get somewhere around $60,000/year. That's not much for a company president who is going to take this company into some big times. But just getting the stock to the .15/share level would be great incentive for him to do as well as he can for all the stockholders.

As I said, it's a non issue to me.
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