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Microcap & Penny Stocks : TSIG.com TIGI (formerly TSIG) -- Ignore unavailable to you. Want to Upgrade?

To: zonkie who wrote (31789)	6/28/1999 1:08:00 AM
From: cicak	Read Replies (1) \| Respond to of 44908

Hi Zonkie - <<Phillip, have there been any filings by anyone that has accumulated 5% or whatever the lower limit is that someone has to file about? Would a person that has shares they have gotten through a private placement have to file a form 4 when they sold or covered a short with shares from a PP?>> I don't know. I need to research this some more as I hope we all do. :~) <<Also is there a rule that says you can't short a stock and cover it with shares you later get from a conversion? Did I see someone post something to that effect? Just wondering.>> From what I read on a legal discussion forum - the answer to your question may be NO. This is something that TSIG Management definitely needs to look into IMO. ===================================================================== washlaw.edu "The first, more fundamental, legal reason is that the SEC has taken the position that shares which were owned but which were not freely tradable when the short was created cannot later be used to cover the short postion, even though they have subsequently been included in a resale registration statement or, if not, have run the Rule 144 holding period. Conceptually, the SEC takes the position that the shares which were later delivered to cover the short had to have been in existence and freely tradable when the short was created because that is the time they were "sold" publicly." ===================================================================== Regards, Phil