Steve,
I wanted to let this drop but since you asked about more details on the insider trading, I'll summarize it.
This is also for Beararn from Stockhouse who wrote:
I know what Mike said re insider trading, and I am trying to figure out how why he said it - I'm blown away
by it.
First I'll admit that perhaps I contributed somewhat to the confusion by the timeframe I gave for the selling. I was providing the info from memory. Now that I have it in front of me, I should have said the selling took place over the past few months.
I'm glad to see that Beararn made some phone calls about the insider trading reports; however, perhaps he would have found a call to the BCSC like I suggested (instead of the CDNX) more informative. Yes, TOM reports insider trading to the BCSC; however, the BCSC does not report it to the public (through their website) because the BCSC is not TOM's "home" reporting agency (the ASC is). At least, this is what I was told on the phone.
My information on TOM's insider trades comes from www.adviceforinvestors.com which includes the Carlson Online site. Unlike many other sources, it does include ASC-reported info
Oct 27th, TOM closes at $0.55.
On Oct 28th, TOM announces plans for TST Tech IPO.
Nov 12th, TOM closes at $0.60; a mere 1200 shares trade.
On Nov 12th, Findlay exercises 50,000 options at $0.50.
On Monday, the 15th, trading picks up and the price and volume start their climb: TOM closes up .11 at $0.71 on 50,000 shares volume.
On Nov 15th, Andrew Wong exercises 400,000 options at 0.50/sh and the same day sells privately 316,000 sh at $0.60-0.70.
On Nov 17th, Andrew Wong sells privately 100,000 sh at $0.80-0.90.
(Who bought these shares? Any guesses?)
On Nov 18th, Geoff-t shares here his advance knowledge of the IPO approval.
Message 11991514
On Nov 22nd, TOM closes up .25 at $1.20 on 183,950 sh.
On Nov 22nd, Hung is granted 258,000 options at $0.38/sh.
On Nov 23rd, TOM announces TST Tech IPO approved by HK stock exchange.
On Nov 25th, Hung sells 74,200 sh at $1.10-2.00. Another 100,000 sh. traded that day besides his, so I guess we can't blame him for all the selling.
On Nov 26th, Andrew Wong sells 45,300 sh at $2.10-2.80.
On Nov 26th, Hung sells 20,000 sh. at $1.70-1.83.
On Nov 29th, TOM announces that TST Tech is 200 times oversubscribed.
On Nov 29th, Hung sells 15,100 sh. at $3.25-3.30.
On Nov 30th, Hung sells 29,900 sh. at $2.29-2.98, and Andrew Wong sells 10,000 at $2.47.
On Dec 1st, Hung sells 9000 sh. at $2.50-2.64.
On Dec 2nd, Randy Hung sells his entire holdings (the remaining 10,000 sh.) at $2.00 and $2.37.
Also on the 2nd, James Wong sells 18,500 sh. at $3.20.
Between Dec 2nd and 8th, Findlay buys 23,000 sh. but sells that and more (50,000 sh.).
Andrew Wong sells 5000 sh at $2.80 on March 2nd.
Anyway, anyone is free to disregard all this, if they think that this is just my imagination playing tricks on me.
Comments?
Mike |
