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Non-Tech : Ashton Technology (ASTN)
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To: Keith A Walker who wrote (176)4/17/1999 2:10:00 PM
From: EyeDrMike  Read Replies (1) of 4443
 
Not too worried about non management selling; Insiders effectively own and control the whole enchilada. From the last 8K:

Ashton's directors and officers beneficially own approximately 8.6% of the
outstanding shares of our Common Stock. In addition, directors and officers
have been granted options to purchase our Common Stock. Should all these
options be exercised and converted into Common Stock, the directors and officers
would own 33.5% of the outstanding shares of Common Stock. In the event all of
our outstanding shares of Series D and Series E Convertible Preferred Stock were
converted into Common Stock and in the event we exercised all our Put Rights
permitted by the Private Equity Line of Credit Agreement, Ashton's directors and
officers would beneficially own 23.8% of the outstanding shares of our Common
Stock. Because Ashton's Certificate of Incorporation provides no cumulative
voting rights, our directors and officers, acting together, are in a position
effectively to control the election of the members of the Board of Directors of
Ashton and to control most corporate actions, as well as any actions requiring
the approval of stockholders, such as mergers and acquisitions.
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