Ther is a smal float of only 1.3 million shares ! ...
From the recent S-1 registration statement:
... The Company's Amended and Restated Articles of Incorporation currently
authorize 20,000,000 shares of Common Stock of which 4,404,601 shares are issued and outstanding as of October 31, 1998 without giving effect to the exercise of warrants or options or the conversion of debentures. ...
freeedgar.com
A look at the recent trading volume is also revealing -
techstocks.com shows the following numbers:
Date Close Change Day High Day Low Volume
Dec 03 9 1/2 + 17/32 +5.93% 9 9/16 8 5/32 326,600
Dec 02 8 31/32 - 1 3/16 -11.70% 10 1/2 8 15/16 284,500
Dec 01 10 5/32 - 11/32 -3.28% 11 1/4 9 5/8 564,400
Nov 30 10 1/2 +1 3/16 +12.76% 11 9 11/16 674,800
Nov 27 9 5/16 + 1/8 +1.36% 11 8 3/8 628,200
So total trading volume during the last five trading days was 2,478,500 shares. Divide by 2 since it's a stock traded through MM's and we get a volume of 1,239,250 or about 95% of 1.3 million shares. For a stock with a small float, there seems to be a lot of it trading over a short period of time.
BTW, we're still waiting for the documentation of your earlier statement about conversion timing ( see #reply-6624256 ).
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