Sam put out a letter for everyone to put there name on it saying they weren't a basher or paid so on and so forth....AND AS OF YET THIS POS innuendo basher hasn't put his name on it.
And I'd bet $$ he never will.
Why did I respond to him? He made a statement which, to the best of my knowledge, was blatantly incorrect and it went totally unchallenged. He asked where the filings were for managements' positions, ignoring that the % of ownership required for such filings is more than 10%. And he says it again here, stating the % of ownership doesn't matter when the SEC rules clearly state the percentage requirement:
(I posted the SEC rule itself and here he posts the forms requirements descriptions.)
Message 8308004
Ellen..form 3 ..initial filing for officers(% of ownership does not matter--the filing informs shareholders of the officers holdings)..
3, 4 and 5
Every director, officer or owner of more than ten percent of a class of equity securities registered under Section 12 of the '34 Act must file with the Commission a statement of ownership regarding such security. The initial filing is on Form 3 and changes are reported on Form 4. The Annual Statement of beneficial ownership of securities is on Form 5. The forms contain information on the reporting person's relationship to the company and on purchases and sales of such equity securities.
And it is disturbing to allow his innuendo to remain unchallenged:
PS: as to your piffle regarding the FLOORLESS PP,,reread the letter(with letterhead<g>) from the company..Conversion is based on the stock price--hence, the term floorless)
There is simply not enough information available yet for this to be definitively described as floorless. My request to him was to support his claim or refrain from posting about it. Innuendo, IMHO, is unethical. Period.
Unknown - yet - is whether or not there is a buy-back clause, or any prohibition against shorting, or a ceiling, or the discount percentage, what any discount is tied to (the lowest or the average stock price?) within a certain number of days prior to conversion, or is there a "look back", or any provision against selling ahead of conversion, or a maximum dilution clause, any warrants, etc. In other words, there are too many unknowns for anyone to state definitively what the PP debentures are. Personally, I look forward to the details. |
