Hi Ed,
We've been over this a number of times in the past. As I am sure you well know, filing a 144 only indicates that someone is registering unregistered shares. It does not mean they are selling... or have sold. Some of these names have been there a long time. A person cannot sell unregistered stock without the certificate carrying a legend stamped on the front of the certificate that it is unregistered... very difficult to sell particularly as they would have to essentially give a "red herring" to anyone buying those unregistered shares. Most people who have unregistered shares will register them as soon as possible even if they have no intention of selling. It is certainly reasonable, IMO, for anyone with letter stock or unregistered shares to want to be on "equal footing" with other shareholders and have the ability to pledge their stock as collateral, etc. without actually selling their shares. Filing a 144 is not that difficult a task and takes usually only a few weeks to accomplish. Although it is only "good" for 90 days, renewal of 144 status every 90 days is a simple task. Been there... done that! If you look at the filings, you will see many of the same names repeated. In addition, some of the people filing... especially the small amounts (and they are all relatively small, IMO)... may not even be insiders per se, but people who received stock in lieu of cash payment for services rendered to the company years ago and probably don't even know or care what TSIG does. Those who may be so-called "insiders" could just plain and simply have a need for some cash as we don't know either their personal situations or the total amount of shares they own.
These, IMO, are not insider trades (or "sells" as you imply)... and if they have been sold they are, again IMHO, a "drop in the bucket". Same names... just refiled from what I can see.
Be Right!!!... Sit Tight!!!
Best always,
Marty |
