Marty:
Thanks for the most recent insider sale. These are the only insider sales I've been able to find since June 1, 1996.
February, 1997 3 transactions totalling 450,000 shares, average price .94/share, $422,500
April, 1997 2 transactions totalling 350,000 shares, average price .65/share, $227,500
May, 1997 2 transactions totalling 160,000 shares, average price .53/share, $84,800
June, 1997 6 transactions totalling 437,100 shares, average price .52/share, $229,260
September, 1997 1 transaction totalling 332,600 shares, average price .36/share, $119,700
January, 1998 1 transaction totalling 332,600 shares, average price .04/share, $14,960
BTW, one should note that all of these sales are coded "N". The definition provided for code N is: "None. This code is only found on Form 144 filings, and relates to the fact that not all owners of unregistered shares are insiders."
Only my hunch, but these sellers are probably NOT true insiders, but rather are consultants, attorneys, accountants, public relations and other professional firms who have taken shares in lieu of cash for their services.
It is interesting that the last two sales were of the same odd number of shares --- most likely the same seller.
Offie |
