The Yahoo report on the sale of 842,650 shares is incorrect.
This is simply the number of shares that Lev Dawson had owned prior to that time, that he pledged as additional collateral on the loan.
Here is a clip from the SEC filing:
At the closing, Purchaser shall deliver three (3) stock assignments in the form of Exhibit B, duly endorsed (with date and number of shares left blank), joint escrow instructions (the "Joint Escrow Instructions") in the form of Exhibit C, duly executed by Purchaser, and the total exercise price (including an executed Note in the form of Exhibit D and an executed pledge agreement in the form of Exhibit E (the "Pledge Agreement") under which all shares of the Stock acquired by Note as well as 842,650 shares of the Company's common stock previously owned by Purchaser (the "Additional Collateral") shall be pledged as collateral security for the payment of the indebtedness represented by the Note.
The full SEC filing is at this link:
sec.gov
I have studied this issue extensively, and there is no indication that Mr. Dawson sold shares in March.
Yahoo and other on-line services are notoriously inaccurate about information like this. On most stocks I follow, I have found significant errors in book values, debt/equity ratios, number of outstanding shares, insider transactions etc. If the data is important to me, and it usually is, I always go to the company earnings reports and the SEC filings.
Paul |
