Micky: Your post has extremely valuable information in it, in fact, it is extremely intriguing! Here are my calculations based on your link and post #1 of this thread:
Cash raised by the 504 registration
for the company (post #1): $1,000,000
Cash raised by the company
after selling 200,000 shares: $800,000
Total cash on hand due to offering stock: $1,800,000
Look at the link once more. Who in the world are Motor City, Inc. and Macro Management Group, Inc.??? They sold the exact same number of shares at the exact same time as OX2 Engineering Distribution, Inc. (200,000 shares). Are these some kind of front companies who have no products and exist solely to act as conduits to sell the stock to the public?
Subtracting the 200,000 shares sold at $4 by OX2 from the rest of the insider sales, we can come up with the following:
Total insider sales during first six months of the
year with NO waiting period for sales of the stock: $2,596,446
Therefore the total cash pocketed by insiders during just the first 6 months of this company exceeds the total cash raised by the company by the initial "public" offering!
But there is more...According to post #1, there are 21,000,000 shares "closely held". Who owns them? And when will they hit the market? And how many Travises are in on this deal?
I have to admit, I know very little about 504's and how these offerings work, so on the that basis perhaps I will hand it off to someone else who might be able to reassure me that everything uncovered above is quite normal and about which not to worry oneself.
-Sword |
