shane: Rhonda said that the shares issued after the R/S to pay down debt were Rule 144 shares, those shares carry a one year restriction. The shares that Marc/Ed granted themselves last year have a two-year restriction (according to Rhonda).
Last May there was proposal to amend Rule 144 to reduce the restriction period to six months.
sec.gov
Last November, the rule change to reduce the restriction to six months was approved.
sec.gov
What we know about the O/S:
- after the R/S on 8/13/07, there were 135,706,274 shares O/S
- from the last 10Q: "As of October 15, 2007, 160,603,390 shares of $.001 par value common stock were outstanding"
- last reported O/S from Rhonda (sometime in December) was 185M
Some people may not be alarmed at these figures. Like TedM says, the share count effects EPS, and the share count keeps going up. Now factor in that these shares can hit the open market in six months instead of 12. There really is an urgency to start getting some significant LACC revenue, IMO, to keep up with the dilution. Then again, that's always been the case with ACHI/ACII and we all saw what happened to the PPS. |
