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Microcap & Penny Stocks : DCH Technologies (DCH)
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To: trader who wrote (1134)4/15/1999 9:33:00 PM
From: Sid Turtlman  Read Replies (1) of 2513
 
Maybe I can solve this problem. The word insider has two different meanings.

In terms of who has to file that they have bought or sold, that includes officers, directors, and large shareholders. I don't think Steve is an insider by this definition.

The word insider also refers to people who have inside information. That is assumed to be the people in the above category, but it also includes consultants, accountants, lawyers, and conceivably a shrink or minister who hears confidential information from those in the know. This category does not have to file reports when they buy or sell a company's stock, but they are still under an obligation not to trade a stock when in possession of material inside information. Steve appears to be an insider by this definition.

Hope this clears things up. Steve doesn't have to file after buying or selling DCHT stock. But if he is aware of fabulous news not in the public domain, he can't buy it, nor can he sell it if in possession of material negative news.
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