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Microcap & Penny Stocks : HITSGALORE.COM (HITT)
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To: Q. who wrote (3622)8/24/1999 9:40:00 AM
From: Daniel Chisholm  Read Replies (2) of 7056
 
Hello N-squiggle/D-bar/GradientOperator,

This business of Reed lending his shares to LFT is pretty weird. I don't remember ever seeing anything like it in an SEC filing. I wonder whether these shares were restricted, or whether Hitsgalore must register them? Must they register them by a particular date?

If they are registered, then whoever receives the loaned shares has just been given the opportunity to (safely?) short a coupla million shares. Another way of looking at this could also be that insiders or their proxies would be able to sell a few million dollars worth of shares without having to file any insider sales report.

But I'll bet you never thought of that..... ;-)

- Daniel
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