To All:
I found this on Yahoo/ Investor
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biz.yahoo.com
Form 144: Intention To Sell Restricted Securities
Form 144 filings are indicated by ''Planned Sale''. Form 144s must be filed as notice of the proposed sale of restricted securities. Restricted securities are those that are acquired directly or indirectly from an issuer or an affiliate in a transaction
(or chain of transactions) not involving a public offering.
Not all Form 144 filers are insiders. Any entity owning restricted stock must file a Form 144 prior to selling the restricted stock. Any insider who files a Form 144, must file a Form 4 if and when the sale is completed. To determine if a given filer is an insider, you may click on the insider name. If the individual is listed as a shareholder, they are not an insider.
An insider may file a Form 144 and not actually complete the sale. If the sale was completed, the insider should have filed a Form 4, indicating the transaction was completed. Form 144s contain additional information which may be beneficial.
The data includes the name of the brokerage firm, insider's address, phone number, and the dollar amount of transaction.
The amount of stock an insider may sell is ''restricted'' by a number of factors, such as shares outstanding, trading volumes, etc.
The Form 144 must be filed prior to, or on the approximate date, of sale. Insiders are governed by SEC regulations when they file a Form 144. The following considerations should be kept in mind when you are searching Form 144s. These considerations apply to insiders only - see the above definition (not shareholders or restricted stock owners ):
The filing of Form 144 is not required in any case where the amount of stock to be sold during any three (3) month
period does not exceed 500 shares and the aggregate sale value does not exceed $10,000.
If the seller does not sell all the stock covered by the form within 90 days after the filing, the filing process must be
repeated before the commencement of further sales, except in cases where the passage of time has extended the
seller's holding period.
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Now this:
edgar.sec.gov
Item 5. DIRECTORS AND EXECUTIVE OFFICERS
The names, ages and positions of the directors and executive
officers of the Company as of June 1, 1999, are as follows:
Name Age Position Since
Daniel J. Mendez 47 President and a Director 4/94
Albert N. Figueroa 32 Secretary/Treasurer, and 5/95
a Director
Deng Shan 48 Director 1/99
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Now for the interesting part.
Both Albert and Deng, when they filed their 144's, are listed as "shareholders" instead of S/T or Director. Is this so it would not raise any eyebrows when the Form 4's were not filed?
Albert:
biz.yahoo.com
Name:FIGUEROA ALBERT
Title: Shareholder
Company: Largo Vista Group Ltd
And Deng:
biz.yahoo.com
Name: SHAN DENG
Title: Shareholder
Company: Largo Vista Group Ltd
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Inquiring minds want to know.
Any explanations?
Just wondering,
Phil |
