Based on the action in the past week, I am hypothesizing that this stock is being accumulated by certain insiders in hopes of overturning the current CEO.
I have made a few purchases in the $1 - $1.25 range as a pure speculation that this company will be taken over and possible bought-out.
Here is an extract from the Schedule 13d filed in Oct. of 1998,
ITEM 4. PURPOSE OF TRANSACTION.
As noted in the Original Schedule 13D and in the Voting Agreement, the
purpose of the Voting Agreement was to assure the service of a qualified and
competent Board of Directors by electing George Tulloch, Allan H. Carlin, Arnie
Geller, G. Michael Harris and Kurt Hothorn as Directors of the Issuer. To date,
no such Board of Directors has been elected. Accordingly, on October 21, 1998,
Mr. Geller sent a letter to the signatories to the Voting Agreement (the
"Signatories") stating that the consideration for each party to enter into the
Voting Agreement has not been satisfied (i.e., the designated Board of Directors
has not been elected), and therefore, the Voting Agreement is null and void.
Thereafter, each of the other Reporting Persons sent similar letters to the
other Signatories.
Mr. Geller, Mr. G. Michael Harris and Mr. Joslyn, the sole director,
sole officer and sole shareholder of Westgate, are contemplating forming or
becoming part of a group that will acquire additional securities of the Issuer
for the purpose of effecting a change in control of the Issuer through a
change in the present Board of Directors and management of the Issuer and/or
through other means.
I think this takeover to effect change in conrtol of SOST is taking place.
Sam (IMHO) |
