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Microcap & Penny Stocks : Panther Resources Ltd. (PTHR NASD BB)
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To: Luc Beaugrand who wrote (269)6/15/1998 1:57:00 PM
From: Buster  Read Replies (1) of 618
 
Here is a response from IR regarding my question on "Insider selling".
The company as far as I know has been upfront and honest with me.
Not too happy with the stock price but holding for awhile longer.
It may be a big mistake but I'm not trying to get anyone to buy
so view this information however you want.

Buster

I have been asked to respond to your letter in which you ask, " Do
you happen to know why insiders are selling PTHR stock? "

Referring to the text in your email outlining the transactions, I
notice there are three names listed as insiders. Based on this, I can
see how it might appear as though insiders are selling. In reality,
both Mr. Richard Epstein and Mr. Neelish Bhasin are not insiders. The
shares that they sold onto the market were Class 144 shares that were
issued to them via a private placement during the initial capitalization
of this project. As you know, Class 144 shares must be cleared via a
registration process similar to that of an insider trade. I am not sure
exactly why they have been listed as insiders but I could suggest that
yahoo must have picked up all of the registered transactions and auto
posted them as insiders'.

Alex Van Hoeken is an insider and I can only presume has sold shares
onto the market in order to recover some of his initial capital
investments. In any event, we can hypothesize he was compelled to do so
as selling shares into the market at these rates is not a very desirable
option.

The main insiders of the company are Gordon Muir and Penny Perfect.
You can be assured that they are not selling into the market.

I trust this information aids in alleviating your concerns. We
appreciate hearing from our investors and are always available should
you have any more questions.

Warmest Regards,

Michael J Randles,
Investor Relations
Panther Resources Ltd
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