Good question...On 30 Jan 1998 Selwyn Rabins stated "...As a result of the restructuring, we now have a new lower cost structure in place, we're expanding our relationships with quality developers, and we're strengthening the Alpha and HoTMetaL brand names with new titles and increased retail penetration'', said Selwyn Rabins, President, SoftQuad International. In addition, Selwyn Rabins indicated that the company is considering the repurchase of some of its stock..."
On 13 March 1998 the Rabins' 'non-formally' disclosed that only four days later after their formally disclosed 30 Jan BusinessWire release "...on February 3, 1998, Mr. Selwyn Rabins acquired 133,409 common shares of the Company from a third party pursuant to a private transaction...on February 3, 1998, Mr. Richard Rabins acquired 88,939 common shares of the Company from a third party pursuant to a private transaction..."
Again, if this is the only trx management has pursued pursuant to their 30 January 1998 'share buyback' release, SoftQuad has problems, big time, in our opinion. We will have to wait and see, apparently, until their is a full disclosure...next week's Q4, fy '97 formal release? There also have not been any new products shipped Q1...(through today). |
