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Technology Stocks : TAVA Technologies (TAVA-NASDAQ)
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To: Starduster who wrote (11315)2/14/1998 5:17:00 PM
From: Richard S. Schoenstadt  Read Replies (1) of 31646
 
Sandy,

As a result of your question I took a closer look at the March 97 S3.
It looks to me like the shares are owned by Jenkins and probably former owners of ACT.
The breakdown is 1,657,000 shares for former Act shareholders and 178,571 for Jenkins. This totals 1,835,571. 458,893 could be sold before Feb. 21, 98 without permission. That leaves about 1.4 million that will be freed on Feb. 21.

It is possible that permission was given prior to this date for people to sell. Indeed I suspect Jenkins may have sold most of his 178,571 this summer.

This applies to shares that were outstanding.
It also looks like Jenkins had a lock up on another 75% of 501,071 shares underlying warrants and options.

(See S3 starting at line 1744 and line 1990).

Whether this will have any affect at all I have no idea.
If on the days following the 21st a sudden surge of supply comes on the market, at least we'll know where it came from.

RS
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