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Technology Stocks : Ampex Corp: Digital Storage
AMPX 11.55-7.5%Feb 10 3:59 PM EST
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To: Ratan K. Choudhury who wrote (243)8/6/1996 6:00:00 PM
From: Michael Brian   of 3256
 
Last insider activity was in late-April or early-May by the Treasurer. He is one of Branson's partner's in the holding companies which hold a large amount of AXC stock and also the extremely creative financing I previously detailed. Additionally, some of the directors also hold extremely attractive convertible options at $2.38 per share. By now you're probably wondering "where in the hell is this guy going with this?".

The tresurer bought 10,000 shares at approximately $9.00 per share on the open market! Why would he buy 10,000 shares at $9.00, when he could have easily converted some of his options at $2.38? Could it be he knows something! Since that trade there has been no further insider activity, which considering the market over the last two months, in my opinion,is very positive. SEC regulations require a 6 month window to insiders for which they must hold on to their shares before selling or profiting from their trades or risk losing the profits. I think based on the above, we're still looking at an early to mid-fall announcement on keepering. This is what the Q2 10Q reported as a possible timeframe.

AXC has been fairly stable lately and seems to be consolidating and building a support level in the 6.50 to 7.00 range. Individual Investor still is strong on this stock as one of 1996s 25 Stars.
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