<<<Those shares will be vested over a three-year period. I wonder any or part of them BIGE executives can sell now.>>>
All of the insiders other stock is available for immediate sale - this from the S/3....
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SHARES ELIGIBLE FOR FUTURE SALE. As of the date of this Prospectus,
approximately 3,887,270 shares of common stock held by existing shareholders and 394,466 shares of common stock held in escrow constitute "restricted shares" as defined in Rule 144 under the Securities Act. These shares may only be sold if they are registered under the Securities Act or sold under Rule 144 or another exemption from registration under the Securities Act. Sales under Rule 144 are
subject to the satisfaction of certain holding periods, volume limitations, manner of sale requirements, and the availability of current public information about us.
Substantially all of our restricted shares of common stock are either
eligible for sale pursuant to Rule 144 or have been registered under the Securities Act for resale by the holders, including the common stock covered by this Prospectus. This will permit the sale of registered shares of common stock in the open market or in privately negotiated transactions without compliance with the requirements of Rule 144. We are unable to estimate the amount, timing or nature of future sales of outstanding common stock. Sales of substantial amounts of the common stock in the public market may hurt the stock's market price.
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EFFECT OF OUTSTANDING OPTIONS, WARRANTS AND CONVERTIBLE SECURITIES. As
of the date of this Prospectus, we have outstanding options and warrants to purchase an aggregate of 2,332,010 shares of common stock, 217,600 outstanding shares of Series A Preferred Stock and 122,846 outstanding shares of Series B Preferred Stock, each convertible into a like number of shares of common stock, 20,000 shares of Series C Preferred Stock convertible into 500,000 shares of
common stock, 250 shares of Series D Preferred Stock convertible into a maximum of 708,455 shares of common stock and 50 shares of Series D-2 Preferred Stock convertible into 100,000 shares of common stock. |
