Command Systems, Inc. (CMND) Message Board

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Technology Stocks : Command Systems, Inc. (CMND)

CMND 0.683

-7.9%

1:25 PM EST

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To: Big Dog who wrote (1319)	11/11/1998 3:50:00 PM
From: Big Dog	Read Replies (1) of 1956

Interesting section of the S1 filing: "The maximum rescission liability with respect to the 100,000 unregistered shares sold by the Company would be $1,200,000 (100,000 shares at $12 per share) plus interest. The Company has not recognized a liability based on the rescission of the 100,000 unregistered shares it sold because, as noted above, the right to rescind rests only with a purchaser in the Initial Public Offering who still holds such shares. Given the large trading volume in the Company's common stock subsequent to the offering (indicating substantial turnover in share ownership) and the inability to identify which securities were unregistered, the Company is of the belief that it is not probable that it will be required to effect an actual rescission, as opposed to paying rescissionary damages. As indicated previously, shareholders who purchased unregistered shares in the offering may recover damages if they sold such securities at a loss." In my mind, this is good news. How come no one mentioned it before?

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