MSGI Marketing Services Group Inc. Message Board

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Technology Stocks : MSGI Marketing Services Group Inc.

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Mar 3 4:00 PM EST

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To: im a survivor who wrote (3361)	8/15/2000 9:31:52 AM
From: John Madarasz	Read Replies (2) of 3418

KG... about form 5s Every director, officer or owner of more than ten percent of a class of equity securities registered under Section 12 of the '34 Act must file with the Commission a statement of ownership regarding such security. The initial filing is on Form 3 and changes are reported on Form 4. The Annual Statement of beneficial ownership of securities is on Form 5. The forms contain information on the reporting person's relationship to the company and on purchases and sales of such equity securities. Basically it looks to me like company insiders are getting either more options awarded to them, or are converting existing options already granted at what seems to to them at least a floor/bargain in stock price. Insiders Howard and Hill are obviously averaging down<gg> I'm not sure about the warrants, or if good things are in store. A warrant is a financial instrument which was issued with certain conditions. The issuer of that warrant sets those conditions. Sometimes the warrant and common or preferred convertible stock are issued by a startup company bundled together as "units" and at some later date the units will split into warrants and stock. This is a common financing method for some startup companies. As an example of a "condition," there may be an exchange privilege which lets you exchange 1 warrant plus $25 in cash (or even no cash at all) for 100 shares of common stock in the corporation, any time after some fixed date and before some other designated date. (And often the issuer can extend the "expiration date.") Would these warrants that are being disposed of be used to aquire subsequent option grants at this price, that would be converted at these lower prices? Would this be the type of action associated with a buyout? Any thoughts from the board would be greatly appreciated. Clearly, again, insiders are in the know, and have the advantage here. This company becomes more of an enigma each day with this type of activity. I'm beginning to become leary...again. John

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