Ariella,
The key word in your information is "proposed" sale of xxx shares.
As I have said in previous postings, I consider this as "priming the pump". And, as someone else pointed out, when a form 144 is filed, it is good for 90 days.
As I see it, I would expect insiders to sell shares when the price reached $4. If they did not sell some of their holdings, I would be surprised.
On the other hand, if I saw that they had filed with intentions of selling millions of shares (16 million total less float of 11 million leaves 5 million in the hands of what is considered insiders) I would be very concerned. However, as it is, we all have bills to pay and a live style to keep up.
Included in the current 11 million float, 4 million of that is considered institutional - I think that is right. Someone correct me if I'm wrong. Thereby leaving about 7 million in the hands of the public. Of this 7 million, Harry (of SI) has recorded ownership of about 5.5 million thereby leaving 1.5 million floating around somewhere in the nethermost reaches of cyberspace or in the vault of a few MM's. ????
<<(However, as a side thought, if this is true, why is the price not going up? All I can think of is that there are to many people holding shares that they can not afford to keep and out of desperation end up selling them for the market price, thus bring the overall price down.)>>
What does this all mean? IMO, it is good work on your part to notice the 144 filings; however, nothing has been sold and in comparison to the total, what management/insiders have indicated a desire to sell is a drop in the bucket.
Jim Porter
ps: you can also keep up with insider filings via Yahoo. Just call up the stock you are interested in and click on the subheading "insider". |
