[Insiders, The Final Chapter, or the Case of the Happy Campers:]
Okay, guys, pull up your chairs, grab a beer, put up your feet, and have a listen. First of all, if an insider buys on the open market and sells within six months for a profit, the SEC says the profit belongs to the company not the individual. In most cases, it's easier and smarter for insiders to exercise options. Why have the SEC breathing down your neck all the time?
Second of all, and I hope those who've bitten their fingernails down to the stubs will pay attention ---and those who've screamed "foul" will throw their beta blockers away and take a hike---there's an explanation for all the 144 filings.
Within Amati there have been three sellers and only three: Cioffi, Bivolcec, and Medel. We've been over these already. However, when Amati was private, they raised money through several limited partnerships and after the merger, the stock was frozen for one year. Recently one of the LPs distributed all the shares and these are showing up as "Registered by Affiliates" or "Distribution of Affiliates." Most of the partners don't even know what Amati is. All they know is they invested in something at .50 and got a distribution at 7.00, 8.00, 9.00, or thereabouts.
There are no disgruntled insiders furtively selling because the company's on the verge of insolvency. To the contrary, what we have are a bunch of happy campers busily planning cruises to celebrate their recent windfall. Now if some of my LPs would just do that.
Cheers --- and more cheers!
Pat |
