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Microcap & Penny Stocks : Amazon Natural (AZNT)
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To: Ellen who wrote (5521)9/15/1998 11:30:00 AM
From: Jeffrey S. Mitchell  Read Replies (1) of 26163
 
How many shares could management sell pursuant to Rule 144?

Management is not the issue. As the opening post on this thread implies, AZNT did a Reg D offering which means individuals were offered shares for far below market price if they agreed to hold them for what we now know is one year. That one year is up and thus those shares are no longer restricted.

Just how many shares can be dumped is not known. But, let's just look at a single scenario.

A Reg D 504 offering allows companies to raise 1 million dollars, not shares. If those shares were sold at no more than a buck, as was the case with WellRich's clients, then that means at least 1 million shares are now able to be dumped.

Add in a 505 offering where the limit is (I think) 3 million dollars, you can see that there may indeed be a total of 4 million shares out there. But, again, until an up-to-date 10K is released, there is no way of knowing for sure.

And, again, that does not include shares that true insiders hold.

- Jeff
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