DILUTION & >>Since last July (97) the insiders have been selling and selling and selling
TMSR insider trading biz.yahoo.com dilution--Aanderud formalized a failed $15/share (11/97) secondary offering in December 1997 (of which Winningstad, Chairman, was curiously [and also not available for comment despite repeated requests for information to TMSR] selling 300,000 shares [as part of the offering]) citing stock's price falling from $19/share (10/97) to $12/share (12/97) hence management's conclusion stock was undervalued and did not want to sustain unnecessary dilution...TMSR management [shortly thereafter] subsequently announced substantial successive fiscal 1998 quarterly losses directly responsible for substantial shareholder value destruction and issued a warrant [at said shareholder value destroyed prices]/(stock dilution) to Intel for apparently non-exclusive internet gaming voice technology/license biz.yahoo.com and approved a 1,000,000 share (dilution) ten-year employee stock option plan locked in at historically low prices, of which, management essentially approved 6 months later a private offering at appx. $7/share (42% discount to the price management rejected 12/97) and wherein proceeds come in over a period of ten years i.e. a fv of appx. $7million [v. 12/97 $12/share secondary] and $7 priced insider options which were proximate cause of alleged management negligence and possible/alleged legal issues/violations ref/ Message 4983688 accordingly?, Wedbush, which issued a BUY in October when TMSR was trading at $16/share recently issued a HOLD, also as cited and documented on this thread.
*note: said opinion(s) and allegation(s) should all be confirmed independently and also urge anyone desirous of purchasing shares to confirm with TMSR management how many fully-diluted shares are outstanding including but not limited to the Intel warrants and recently [Board] adopted [and Perkins Coie/Coopers Lybrand] approved/ 1,000,000 share option plan. We especially urge this given the fact management has now not been available to shareholders, the Oregonian, Reuters for comment recently and possibly in violation of certain SEC Rule10b-5 disclosure requirements, also as documented on this TMSR shareholder thread, in our opinion. |
