Rick,
Sorry I couldn't respond sooner to your #3190 post but I had some problems that kept me involved and away from the computer for a few days.
>Babish unloaded a boatload of stock for some STRANGE reason which we may never know about.< Having said that I presume you haven't accepted either Babish's or PRLN's affidavit as to what really occurred. Do you have your own theory? I'm always open to new ideas.
>Harold, its a crock to think Babish stock sale was no big deal.< Rick
I think it's all relative. To me it wasn't a big deal, for you it was very important. I did not change my investing philosophy regarding PRLN because of it. I didn't change anything when I found out that there was a January 144 filing registering 539,478 shares which also could be sold. Paul makes an interesting point in his post #1901 when he said "so you folks assume that anyone can buy or sell, but not the management team. they can buy..but, heaven forbid, they cannot sell. why thats treason someplace.."
The SB Conference was by invitation for the purpose of the presenters to tell the best about their companies and their products to an important group of people who could be investors and be influential in the generation of interest in the companies. I believe both Travelers, SB and probably others were aware that Babish was sellng. If Ron Folk knew on the 11th. I'm sure the big kids knew also, it's their job to know. If there was concern there was undoubtedly an opportunity to ask questions and I'm not aware that anyone brought up the subject.
If John Babish had volunteered the information he sold stock I feel he would have been out of line and could have taken the focus away from the technology which was more important.
>Sorry harold. Thats bad public relations< Rick we really aren't that far apart because I agree completely. Whatever reasoning he used in deciding to do this it was,in hindsight, very poor and apparently did not give any consideration to the effect it might have beyond his argument with Rhodes and the Board.
I also have a large and medium cap portfolio and usually I don't find out till well after the fact about insider selling. The reason they don't sell when things are rough is because they're sophisticated enough to sell before the bad news comes out. The big guys know how to do it.
I am a strong advocate that all officers and directors of a company should be required to own stock in their company. IMO there should be a SEC regulation.
I agree with you that Babish looks good when compared to Rhodes. At some point each participant will have to be judged on their own actions and pay the price.
>can paracelsian make it to December with its cash reserves?< As of June 30th there apparently 1.3 million on hand. We were told at the annual meeting that the burn rate was reduced and there was enough money for 6 to 9 months. Six months from 6/30 will take you to December and nine months till March. A quick calculation will give a burn rate as follows; Six months @ 216,666 and nine months @ 144,444. What really puzzles me is that there is a 70K+ difference per month between the two time frames. Can't they calculate closer than that? Can they last till December, I quite frankly am not sure even Keith Rhodes knows for sure. Rick you'll have to make you own guess on this.
Harold |
