Just got off the phone with Delmar.
I do appreciate that he returned my call. I'd completely forgotten I was wanting to talk to him.
Anyway, here's something that's going to surprise the hell out of a lot of people. It floored me!
According to Delmar, he has not sold *any* shares yet. He has filed his intention to do so, but is in no hurry. He was just filing to open up that option, as he could use a payday. He told me that he's hoping to sell in the 4 1/2 to 5 cent range. Not at these prices.
I'd guess that the 3 cents per share in the filing was put there only because that was the bid price on that day.
He told me he was aware of the big blocks being sold and that there are other large holders, and that as far as he knows, they're thinking long-term with this company. That they're "shareholder-friendly".
This jibes with what we've seen. If it were his shares, there'd still be 1.5 million that didn't sell, which you would expect to sell at these prices (higher than the 2.5 most of the other shares got).
I suspect that those blocks came from folks who really did want to sell on the first solid news and did so, regardless of the price.
I'm expecting that there won't be any more selling pressure for a while. At least not until .045 where we'll be dealing with Delmar and those wanting to beat him to that bid.
He also told me that the 144 is good for a quarter. And that he expects the stock to be at his price within the quarter.
He told me that he was in Canada last week on a business trip, but couldn't elaborate beyond that.
He sounded very upbeat. About like a guy sitting in a very good position and knowing it full well.
He is also seriously considering BusinessWire and expects it to be in the future for the company. Mentioned the beginning of the year. Said he'd used BW before (or something similar) and that they cut it out when money started getting too tight but expects to be in a position to avail themselves of that service again soon.
We talked a bit more about hydroponics. Was educational for me. I had no idea they'd gotten as efficient as they are now. He said some experts are claiming a 300:1 ratio for it (1 acre hydroponics giving same output as 300 acres of land).
That's about all I remember from our conversation. Will add more later if I remember more.
BTW, he hasn't even put in a sell order yet on any of those shares. Like he said, he expects to be able to sell between .045 and .050. I happen to think he'll get that price, and will probably do so on news that cause the market to not even bat an eye soaking up the shares. :) |
