Saw your post on Yahoo. How credible is your broker? What would be his source for this info? Word of mouth? Knowledge of a Form 4 filing?
If true, these insiders would be required to file Form 4 on the 10th of the month following the transaction. Today's the 11th, which means that yesterday was the filing deadline for insider transactions (both buy & sell) for the month of February. Possibly, this is your broker's source.
So, what did I find with a search of the EDGAR database of IMP filings? Nada. But, I did see in the search results that a Form 4 was filed on 2-10-98 by a William IMPerato, disclosing the exercise of some employee stock options by a company director, not of IMP. Mr. Imperato's filing came up as part of the IMP search because of the first 3 letters of his last name. If the foregoing is what your "astute" broker is relying upon as "his source," then I'm sure you will agree he is a complete moron, & I would advise you should dump him ASAP.
If on the other hand, he (or she) can point to his "source" other than a Form 4 filing, well ... we'd all like to hear.
IMHO, today's & past days' trading activity give NO INDICATION of insider buying. If in-fact there were insider buying, I'm sure, given the history of this company, word would get out to other certain individuals close to the market for this stock & we would have seen some time of runnup in the stock. But we haven't seen Jack Schitt.
Have you? |
