PRN:vse -Prism Resources Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : PRN:vse -Prism Resources

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Coho who wrote (13)	4/9/1997 3:45:00 PM
From: Craig Harvey	of 21

This is almost entirely from the investor's relations dept. First of all the private placement was for 2,842,500 units (l share and 1 warrant); there were 33 placees; Mr. Dodson took down 40% of the financing. As it was a private placement, the placees are close associates of the Company. This PP closed April 10th LAST year so shares will become free-trading very soon. The Investor's relations person talked to Mr. Dodson for me, he said that he has a commitment to the Company and there would only be two reasons to sell stock. 1. He does not want to go over 20% ownership because it would require extra reporting. Mr. Dodson currently has 1.8 mill shares (almost 20%). 2. He may have to sell some stock for tax purposes. If he does he will not be selling in the open market but to his wife. The warrants may create some selling activity. Obviously the company wants the warrants exercised and the money in the till. Some placees may choose to sell stock to cover the exercise price of the warrant which is now $0.46. My comments: If this is so, we should see about 0.94 M shares being 'absorbed' in the market from this PP. Probably not a good sign. I dumped mine this afternoon. Now that I'm out it'll probably good up!!

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next