Littlefield Corporation (LTFD) Message Board

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Non-Tech : Littlefield Corporation (LTFD)

LTFD 0.170

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Dec 26 9:30 AM EST

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To: FeringiTrd who wrote (8629)	5/22/1998 5:08:00 PM
From: T.K. Allen	Read Replies (2) of 10368

Dave: You are correct about Harrison's and Mims' shares being locked up. It is my understanding that the shares they got for their companies when they sold late last year were restricted for 3 years - so now they have about 2.5 years to go. I presume this means they can't sell ANY shares until sometime in late 2000 but I don't know this for a fact. A few months back I posted a question looking for details about the nature of the restrictions on their shares but nobody seemed to know and I still don't. I suppose it is possible that their arrangement with AB&G allows them to sell some number or percentage of their shares between now and late 2000 (I have heard of such arrangements elsewhere) but I don't know if that is true with Mims and Harrison or not. We haven't seen any SEC filings for insider selling since Orton's 50,000 share sale late last year. So, in absence of evidence to the contrary, I operate under the assumption they can't sell any. I do not know what the details are for the option plans either. I have looked in the SEC filings and there is some general information about stock option plans in the 10K's but I haven't seen anything that specifically describes Mims' or Harrison's arrangement. Would these details be presented on some other SEC form? I would greatly appreciate it if somebody could enlighten me on this issue. I agree with you about the Board compensation issue being an early and key test for Mr. Hilliou. If the Board has granted him authority to reduce these compensation levels (or will at least go along with a recommendation to do so), this would be a very good sign. If not, then we have a problem. Reducing the number of 1-800 lines will only go so far!<g> BTW, I still have not received my proxy. Did yours come direct from AB&G or through some third party that I would need to contact to see what the hang-up is? TKA

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