Eric Rojas, Floj, Michael Brody and McDee: As to how many shares are held by insiders, the following may help. This is from "Insiders" found on canada-stockwatch.com
Approx for March 18, 1997
Harold DROGA 420,000
Gordon L. HUNTER 439,786
Peter TAMBANIS 2,277,362
Total o/s May 6 news = 13,138,736
Insiders would appear to hold: 3,137,148 or 23.9% of issued
We should factor in options which I believe are approx 7,000,000
Less: options which appear to have been exercised:
Droga..........1,113,850
Hunter..............667750
Tambanis...2,244,441
Total:.............4,026,000
Total options unexercised..........approx.......3,000,000
Insiders would appear to hold: 6,150,000....approx of issued and options o/s or 38%
These numbers may be errant as the information is not really very clear. If someone plans to phone Australia, Peter Tambanis may be able to clear this up. I had heard that the directors held more than 50% previously, however, the analysis above does not support that.
Anyone with more information on this? Can you shed any more light on this Michael? Thanks
GMO is showing strength today with few willing to let GMO go below 90cents.
Best regards,
Ron E |
