More Dilution- SOLP Filed an S-8 Registration on July 28, 1997
MC,
I am ashamed that my do-diligence did not include a perusal of the SEC documents filed by SOLP. It concerns me that management filed an S-8 registration for 1,162,000 shares to be sold by management and directors. Apparently these shares are incentive or bonus shares yet to be issued and could be sold into any rally further diluting our stock.
The two directors named, Edward Ehrenberg and Joel A. Klarreich, have no shares held prior to the registration yet SOLP is giving them 16,000 shares each. The remainder of top management will sell 1,130,000.
In light of SOLP's warrant buyback announcement it appears as though management may be making a play to profit. Were these additional shares accounted for in the 9,000,000 fully diluted shares outstanding? Could we see 10,000,000 shares soon? What gives?
Here is the filing.......
sec.gov
Regards,
Tom |
