QDRX Message Board - Msg: 500303

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Microcap & Penny Stocks : QDRX

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To: P. Ramamoorthy who wrote (674)	11/30/1996 11:11:00 PM
From: Richard F. Hubbell	of 3977

Hi Ram. About the 13D... My understanding is that whenever a company insider transacts (buys or sells) a) 500 (or more) shares - regardless of price OR b) $10,000 dollars (or more) of stock - regardless of shares c) this is all independent of the percentage that they own - then that company insider must file a 13D. I can only guess that the SEC figured the 'average stock' was worth about $20 a share, giving them 500 times $20 which is $10,000. For example if an insider bought 500 shares that were only worth a total of $450, and that is their only holding in the stock - they would have to file. Alternatively, if an insider sold a total of $10,000 worth of stock that was represented by only 85 shares - again, they would have to file. There are special rules for any persons or entities (like mutual funds) if they own or have voting rights on 5% or more of the outstanding stock. Take care, Richard

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