Blank Check IPOs (SPACS) Message Board

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Technology Stocks : Blank Check IPOs (SPACS)

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To: jrhana who wrote (1866)	8/14/2008 4:19:04 PM
From: jrhana	Read Replies (1) of 3862

Very positive action in the ESA warrant stock on the day before the (hopefully) final approval meeting. The ESA insiders have just filed SEC paperwork showing purchases of around 500,000 shares. According to SEC filings, over 42% of the common shares in ESA will now be in insider hands. In addition I have no doubt that the other 1.5 million or so shares that crossed a few days ago were bought by friendly hands. That should mean that well over half of the common stock is in very strong hands. In addition at least half of the 20 million outstanding warrants are also in strong hands IMO. In other words over half of the warrants are not being held for a few cents profit but rather for a multibagger type of gain. I have the sneaking suspicion that this whole nerve wracking take-out-the-arbs dance that we recently have been observing was done with this exactly in mind: ie to make sure that a very large and controlling percentage of the company remains in strong and friendly hands. Marshall Reynolds plans for this company remain both extremely ambitious and long term with possibly a 3-5 year time frame.

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