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Biotech / Medical : SNRS- Sunrise Technologies
SNRS 0.0000010000.0%Nov 25 9:30 AM EST
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To: David Jones who wrote (1680)10/6/1998 12:39:00 PM
From: Joe  Read Replies (2) of 4140
 
David,

The operative part of the S-2:

THE SELLING SECURITYHOLDERS
The Offered Shares were acquired by the Selling Securityholders through warrant grants subsequent to October 1997 or investment in the 1998 Notes Placement. Absent registration under the Securities Act, the Offered Shares are subject to certain limitations on resale. The Registration Statement of which this Prospectus forms a part has been filed in satisfaction of certain registration rights granted by the Company to the Selling Securityholders.

I think you are right about where the stock came from. That 150K probably did come from the registered stock. Since it showed up the way it did, and the fact that there were several large trades this morning, it may be that a MM bought it knowing a buyer would come in today and take the block in pieces at a higher price. After the trades were done this AM, the stock has dropped on no volume.

Joe
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