Kim,
Can you clarify for us what the rules are regarding foreign companies
that are traded OTC? Naxos really isn't on an exchange, and I would
like to know exactly what must be reported to the SEC.
If the insiders are required to report, then there must be some
public documents available now showing insider trading in the last
year. I personally haven't seen any, and I know that Dow Jones
reports these on their wire service when they become public. Since I
subscribe to Dow Jones, I already looked into this and found nothing. I can easily track insider info for US companies that
trade on an exchange but I am not convinced that it is so easy
to do for Naxos. Please clarify.
Also, regarding ACTUAL transactions by insiders, didn't we already
determine that Jimmy John made something like 1000 trades a couple
of years ago, with a net increase in shares indicating he was selling
at market to buy stock options? To cut through the fat what that
really means is that he is selling high and buying low and still
maintaining his shares. He is profiting from the stock by trading
the stock, which is exactly what I would expect anyone in his position
to do, regardless of whether the playa is a field of dirt or the
richest gold deposit in history. I would also expect that anyone on
this thread who bought stock at $1 last summer would be selling at
this level, because there is a good chance we will be trading lower at some point in the future. I would do it myself if I actually bought
stock at that level but I am not as good at timing as others are.
Take care,
Doug |
