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Gold/Mining/Energy : Spartacus Capital - SCI on CDNX
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To: AriKirA who wrote (7)1/23/2000 3:18:00 PM
From: keith massey  Read Replies (1) of 43
 
Hey Ari

As you know this is a venture capital pool. Of the 2.5 million share out, 1.5 million were distributed to the public and 1 million shares are held by the insiders, directors and promoters.

The 1 million shares held by the insiders, directors and promoters are escrowed with 1/3 of the shares being released on the first, second and third anniversaries of the completion of the IPO.

This means only 1.5 million shares are presently free trading.

With the new VCP rules no investor can purchase more than 2% of the shares offered under the IPO... (30,000 shares). You can be almost sure that friends and family of the insiders, directors and promoters all bought the maximum amount they could which would would eat up a very good chunk of that 1.5 million shares. It appears that around 200,000 shares have been net sold through Global which are all likely shares from the initial IPO bought by normally retail fokes that bailed for a profit before the deal was announced.

So what is the float? I would say at least under a million but it is anyones guess what the exact number is.

So what are your thoughts of the fundamentals? I already own shares so I am probably a little biased and hope the public see the long term potential in this type of business plan.

Best Regards
KEITH
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