Thanks for spreading false information, Chief. No wonder this stock never moves when the "longs" don't know right from wrong.
<<<11.) Of the 71m+ shares authorized and issued, it is my understanding that only 50m(per Pat Rost 07-05-99) are available for the float. Joe, key management, employees and others(family) are the shareholders of record of these other shares that do have restrictive covenants Also, do not forget that some shares of stock are reserved for contractually granted employee stock option purchase plans.>>>
Restrictive covenants? Hardly. The number of shares that are restricted is only about 1.3 million, and that number is dropping. I got that information from the transfer agent, not an anonymous hyper:
Message 11827070
Number of shares held by insiders, and not considered to be in the float (According to the SB-2): 8,158,125
There is no need to trust an anonymous poster's "understanding" of what the float is. The number of shares in the float is a matter of public record.
The amount is total issued shares (71,373,510) minus restricted shares (1,300,000) minus insider shares (8,158,125).
That comes to approximately 61,915,385 shares in the float. I've underestimated on the restricted shares slightly, so let's agree that it is just over 61 million shares.
A lot more than 50 million, in other words. |
