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Gold/Mining/Energy : T.ITE: iTech Capital (TSE)
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To: Mr. Forthright who wrote (789)8/17/1999 12:42:00 AM
From: keith massey  Read Replies (4) of 5053
 
Mr. Forthright

There are no Warrents outstanding....

Brian Hinchcliffe, Jim Graham and a few others have 1.3 million options. From going back and seeing when these where issued most of them are out of the money ($1.5-2) and none of them are priced below .70.

Mr. Civelli has 600,000 options at an average price of .75 (.60-.81)

Mr. Staudt has 800,000 options at $0.49.

So if you add all of that up it looks like 2.7 million option are out with an average price around .75-1.00. A bunch of these are going to expire in the next 6 months so if they want to make some money they better run this stock up fast.

Although a lot of companies have insiders who own tons of the company (40% plus) and have a ton of options and warrents, if you do the digging you will normally find that the insiders got a big percentage of their shares for next to nothing (e.g. .01/share) and that the warrents have been price down to super low levels. Insiders in these type of companies don't need to boost their share price very far to make a killing. One of the many things that attracted me to JDX was that the insiders options and stock holdings are all around the current price of the stock. If they want to get rich they need to move this stock to far higher levels. By the way...JDX has never in its history repriced the insiders options when the stock was doing bad....I for one believe insiders that do repriced options should be taken out behind the barn and %*&@#$%# (pet peeve)

Best Regards
KEITH
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