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Microcap & Penny Stocks : ACCY - Accsys Global Network, Inc (NASDAQ OTCBB)
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To: Andrew H who wrote (1068)2/9/1998 1:23:00 AM
From: flightlessbird  Read Replies (2) of 1574
 
Andrew: I can only reiterate what I have said about my knowledge of the float. 10M are restricted leaving the float somewhere between 0 and 6.7M shares (based on 16.7M outstanding). Based on my memory of conversations about this with Damian, I recall that ACCY insiders own 3-4M of the 6.7M unrestricted shares. The issue at this point is only how many shares of accy have been sold by insiders. Assuming none, I would estimate the float at 3-4M (as I have always estimated it). According to John Stewart's information, they are not selling any shares. I can't verify that personally. So I estimate the float at somewhere between 3 and 6.7 million shares, and probably much closer to 3. I don't believe shares were dumped on the market during this recent upswing because it is hard to believe a stock could move 250% with shares being dumped. I do believe Damian and David believe in their concept and company and would not be selling their shares at this level. I have always operated under an assumption of 3-4M shares in the float. Personally, if the number was closer to 5, I could care less. I don't think the difference will have a great impact as we near tournament time. Obviously it didn't make much of a difference in the past week. I agree that certain people have promulgated incorrect information regarding the float. 2M shares is inaccurate and, in fact, if I am remembering correctly, even I originally believed that to be the case. But that was before I did my due diligence and ultimately uncovered the correct number.

Flightlessbird (feathers ruffled and all **gg**)
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