Thanks Jack...I will post more of my own research later but here is a post from YAHOO I think is worthy of posting here.
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I have corrected this same misleading post several times before when it was posted by other yahoo id's. There were three sales that already ocurred in January.
They were:
1. A 75,000 sales by a director, Francesco Bolgiani. He continues to hold 100,000 shares, which he is not selling.
2. A 200,000 share sale by John Hui. He continues to hold 840,922 shares, which he is not selling.
3. A 29,000 sahre sale by Peacock. He continues to hold 272,307 shares which he is not selling.
During 1999, insiders purchased about 900,000 shares, far more than they sold. Since the stock got to $3, since January 28, 2000, not a single insider has filed to
sell a single share despite the fact that the stock is way up in price and they are holding options exercisable in the 1's and 2's and lower.
Only three insiders sold any shares at all. All three of them bought heavily in 1999, exercising options, and five other insiders bought heavily in 1999, including the
former president and CFO, neither of whom has sold a single share.
Cut the bull.
[Why the small institutional ownership, and no coverage if VASO is so great?]
You do not know what the institutional ownership is. The institutional reports on which the online sites base their calculations are filed quarterly, semi annually, or
annually in arrears, depending on the type of intsitution. Mutual Funds will not report purchases of Vaso since December until the end of June; banks until the end
of this month, at the earliest. The small institutional holdings prior to that are because the company was losing money with negative cash flow and trading below 3,
all factors that cause institutions to avoid. It was also far too thinly traded to support the institutional need for liquidity.
[Why are insiders not buying now?]
Why should they exercise their options early if they think the stock has further to go up. Why pay taxes before you can get the cash. What makes you think the
fact that they have gotten and exercised stock options and did not sell the shares, and the fact that they are getting stock options now and are not filing to sell the
shares, are not the significant factor.
[This concerns me as a potential investor]
Potential investor my A**. << |
