Insider Transactions:
Name: SHENKMAN ZEEV
Title: Director
Company: USA Bancshares Inc Pennsylvania
Shares Remaining: 26,450 CL A as of 5-Mar-99
Transaction History
Date Action Broker Shares Type Price Value
5-Mar-99 Bought (P) - 2,500 CL A 8.50 $21,250
8-Feb-99 Bought (P) - 500 CL A 8.75 $4,375
4-Feb-99 Bought (P) - 1,000 CL A 9.00 $9,000
29-Jan-99 Bought (P) - 2,500 CL A 8.25 $20,625
Name: FOGWELL GEORGE C
Title: Director
Company: USA Bancshares Inc Pennsylvania
Shares Remaining: 42,377 CL A as of 18-Feb-99
531(indirect) Common as of 18-Feb-99
Transaction History
Date Action Broker Shares Type Price Value
18-Feb-99 Bought (P) - 7,000 CL A 9.00 $63,000
18-Feb-99 Holdings - 531 (i) Common - -
Between these two they have over 68,000 shares held. Would a profitable, successful banker take a chance on an SEC violation in order to get a few bucks of a pump and dump? Maybe if they had half a million shares but not with 68k is what I think. Now if the same bankers were able to pull of the business model they are talking about and the subsequent rise in value were even close to NTBK and the 68k shares would be worth lets say 10 million?? I think that I would if I were a director of this company try real hard to make the website work and work well.
With the interest this has generated this weekend I will hold for a few days. Downside is very limited and with the tiny float it could get tight for some.
I think they won't have a problem finding customers. Investors driving up the price of the stock will bring them lots of attention. We will see Monday.
Bill |
