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Microcap & Penny Stocks : HITSGALORE.COM (HITT)
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To: Janice Shell who wrote (4263)10/2/1999 2:33:00 PM
From: Q.   of 7056
 
re. <<especially if the lockup were for only a very short period of time. Like a few days...>>

Good point. In neither the news releases reporting the private placements, nor in the 10Q, can I find details specifying the duration of the lockup. I had just assumed they were locked up for a year, which would be fairly typical, but upon closer examination, I see that I was fooled. Tricky, eh?

Details of the subscription are lacking from Hitsgalore's SEC filings. Good companies will give more details, and they will often include the entire contract as part of an 8k or 10k or 10Q. Not Hitsgalore, though.

In my opinion, this is yet another example of inadequate disclosure to the public of the details of the transactions between Hitsgalore and Life Foundation Trust.
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