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Microcap & Penny Stocks : BANY: Core business growth, exciting affiliations!
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To: brad greene who wrote (1392)3/23/1998 4:55:00 PM
From: Larry  Read Replies (2) of 5847
 
Brad,

I called BANY IR, had a long talk with Scott, and found out the following:
Any shares owned by Cameron Yost or Mr. Saf, or anyone else who is an
employee of Banyan are "insider" shares and are restricted for sale by SEC regulations. Therefore they are classified as Shares Outstanding and NOT part of the Float. In order to be sold, the shareholders would have to file form 144's, wait 6 weeks, and then sell. Banyan has had no insider sales for the past year.

I also called the Transfer Agent (Oxford Transfer Register) and was told they would not release information to me without the company's permission. I returned the call to Scott and was told Banyan gets charged 100 to 1,000 dollars for each report issued by OTR. He said he would call Cameron Yost and try to find a way around that.

So, no new information to report. I will follow up on this tomorrow.
Larry
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