Dear Raven: While there is no reason for alarm as long as the sale is done in an orderly fashion, here is the reason for the decline:
CYCH took a hit today (in a down market) because of a SEC registration filing announcing the planned sale by some institutional investors: RGC International Investors, LDC; Halifax Fund, LP; and Donino, White & Partners intend to dispose of their entire holdings of 2,301,586 shares. The timing of the sale is not given. No reason was given for the sale.
marketwatch.newsalert.com
According to CYCH's 1997 SEC Form 10K, RGC International, LDC and Halifax Fund, LP acquired their shares on August 1, 1997 and February 5, 1998. I could not find information on the 15,000 shares held (and being disposed of) by Donino, White & Partners.
Here is information on the August 1997 private placement:
cybercash.com
Here is information on the February 1998 private placement:
cybercash.com
Hope that was helpful. |
