Thanks for the link, I tried 5 times to connect but was unable. I will try in the morning again early when the internet is not so busy.
I have a few other things i can't figure out as i am a novice at this type of investing. If someone could show show me what I am missing in the following I would appreciate it.
go here:
insidertrader.com
scroll down.....type in:..." olex "....and hit "get data"
ok.....what comes up for me is a list of the buys and sells for oilex since feb. of 97 for restricted stock (which it looks to me like are all sells). Can anybody tell me who these people are that are selling these large amounts of oilex shares? Take for instance the entry for June of 97, 6 people filed to sell 437,100 shares for $229,260.øø. Since this is before the 20 for 1 reverse split I would assume that their proceeds from this sale were $4,585,200.øø. Is this correct? Who are these people and how did they come by this large amount of shares? I am sure the present management are well aware of who these people are. They would almost have to know who sold $4,585,200.øø of our company which has a market cap today of less than $2,000,000.øø. This is not to mention the sale's of 2, 4, 5 and 9 of 97 which it looks to me like brought the sales total to $34,594,000.øø for 1997. I surely must have made a mistake in my calculations somewhere, it does not seem possible for any group of people to sell that much stock in a company with a present market cap of .....hmmmmmmm.......how much? .....8,000,000 times ›.17 (is this correct) equals $1,360,000.øø........Is that the present market cap of oilex? If so the market cap now is 4% of what all those N's listed at insider trader sold their stock for last year.
If these people had enough faith in oilex to have such a large amount invested in it last year and sold for such a large amount why aren't they buying those shares back today at the small fraction of what they sold them for? Is their something that i am not seeing here? I just can't figure out these big numbers.
I am still holding my shares and yes I have so much faith in oilex that I have averaged down, but I will have to admit I am becoming a little bit discouraged seeing my investment go down by 98% in such a short time.
I bet the officers and directors are buying this stock up hand over fist at the present price of 2% of what it was last year. Steve, can you tell me how much insider buying has been filed?
If another company were willing to pay even ›.34 for olex's shares that would be a 100% appreciation from the present price of ›.17 so somebody should be buying if there is a chance of this happening.
good luck all........happy investing |
