John, I believe that all companies that trade on any US exchange has to follow the same rule, and once an investor accumulates more than 5% of the share it has to file either a 13-D (?) or another form by the 10th of the month following the purchase.
As for the recent news, I understand it is just a "memorandum of understanding", not exactly a "purchase order", between the last and the first you may have many months of looking for financing, and the number of shares continues to explode. As for the rise today, it is not unusual for such low price stocks, particularly those in which there is a floorless, to have a strong bounce, it afford the bandits additional shorting opportunities at higher prices. I am not following this stock in any details anymore, and would not be surprised to see it go down the drain, or at least undergo a sever reverse split before it goes down again. After all this time and discussions with so many potential partners, it maybe time to start and doubt the basic premise of the "huge" profitability of these plants. Apparently, potential JV's are in no rush to join.
Zeev |
