Interesting stuff Brad. I doubt Tri-Star was the buyer, however, for a couple of reasons. First, the sell was to a market maker and there was no subsequent buy of 2-million shares - although I suppose it could have been bought in smaller chunks for whatever reason. Not likely though. Second, if the buyer was Tri-Star buying from Glaubman, it most likely would be done with a signed and notarized contract directly with the Transfer Agent bypassing the vagaries of market makers.
I suppose there are lots of possibilities since the outstanding share base has grown so rapidly in the past year. The outstanding went from 3,894,744 on 6/30/96 to 5,986,744 on 9/30/96 to 12,911,744 on 12/31/96 and finally to 16,646,744 on 3/31/97 (which is the most recent filing.)
You said, "I find it very difficult to believe that Herb does not know who is selling or buying 2 million of his company's stock." Of this, we can be sure. <g> I suppose in due time the details will be announced. You know what they say..."the devil is in the details."
Al |
