Not like we didn't know this already, but the big sale in late March was covered in a Schedule 13D/A filed with the SEC on April 13, 1999 on behalf of Astoria Capital Partners:
sec.gov
From that filing:
Item 5. Interest in Securities of the Issuer
(a),(b) Reference is made hereby to Items 7-11 and 13 of page
two (2) of this Schedule, which Items are incorporated
by reference herein. Of the shares beneficially owned,
all 2,000,000 shares are owned by Astoria Capital
Partners, L.P.
(c) Astoria Capital Partners effected the following
transactions through registered broker-dealers in the
last sixty days: On March 22, 1999, sold 1,000,000
shares of common stock. On March 24, 1999, exercised
warrant to purchase 1,000,000 shares.
So, Astoria Capital sold common stock to buy the warrants. They had a little dilution from the issuance of shares under the warrants, but continued to hold the same number of shares.
I guess they have the same confidence we do. No lightening up on their behalf.
Holding and waiting.....
Later, Dennis
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