Ron, just thought you'd like to know that almost all the recent 144 sales were from WellRich clients. It was earlier alleged that any sales to WellRich clients had a two year restriction on them that superseded, by contract, the recent Rule 144 change by the SEC that reduced certain two year restrictions down to one year. As the expression goes, the tape doesn't lie.
Furthermore, Janice posted a copy of the AZNT's own Stock Subscription Agreement that states very clearly that AZNT sold stock that was only restricted to a one year hold.
Even worse, I hear that SecureCapital sold 144 stock after WellRich had finished, so who knows what else is out there in the future.
From a technical perspective, AZNT does have the right to stop any 144 sales from being completed. However, from a practical point of view, such a practice would not hold up in court if challenged via an adverse claim and thus would be pointless.
Considering there are around 300 individuals who purchased AZNT stock through WellRich and only a tiny fraction have sold, any selling we are seeing today may just be the tip of the iceberg. And considering each and every 144 sale increases the size of the float, it appears that if anyone is ever forced to cover a short position, there should be an ample supply of stock available with which to do so.
- Jeff
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