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Non-Tech : Ashton Technology (ASTN) -- Ignore unavailable to you. Want to Upgrade?

To: lostmymoney who wrote (2140)	7/21/1999 8:54:00 PM
From: Rob W	Read Replies (1) \| Respond to of 4443

This is from yahoo. It is pretty basic, but I suspect not basic enough for some. Form 144: Intention To Sell Restricted Securities Form 144 filings are indicated by ''Planned Sale''. Form 144s must be filed as notice of the proposed sale of restricted securities. Restricted securities are those that are acquired directly or indirectly from an issuer or an affiliate in a transaction (or chain of transactions) not involving a public offering. Not all Form 144 filers are insiders. Any entity owning restricted stock must file a Form 144 prior to selling the restricted stock. Any insider who files a Form 144, must file a Form 4 if and when the sale is completed. To determine if a given filer is an insider, you may click on the insider name. If the individual is listed as a shareholder, they are not an insider. An insider may file a Form 144 and not actually complete the sale. If the sale was completed, the insider should have filed a Form 4, indicating the transaction was completed. Form 144s contain additional information which may be beneficial. The data includes the name of the brokerage firm, insider's address, phone number, and the dollar amount of transaction. The amount of stock an insider may sell is ''restricted'' by a number of factors, such as shares outstanding, trading volumes, etc. The Form 144 must be filed prior to, or on the approximate date, of sale. Insiders are governed by SEC regulations when they file a Form 144. The following considerations should be kept in mind when you are searching Form 144s. These considerations apply to insiders only - see the above definition (not shareholders or restricted stock owners ): The filing of Form 144 is not required in any case where the amount of stock to be sold during any three (3) month period does not exceed 500 shares and the aggregate sale value does not exceed $10,000. If the seller does not sell all the stock covered by the form within 90 days after the filing, the filing process must be repeated before the commencement of further sales, except in cases where the passage of time has extended the seller's holding period.

To: lostmymoney who wrote (2140)	7/21/1999 9:03:00 PM
From: EyeDrMike	Respond to of 4443

true company insiders must file a Form 4 by the 10th of the month, following the sale of stock, for example, anyone selling in JUNE, would have to file a Form 4 by July 10th. Look at the tremendous rush to sell by all the company insiders, then wonder, if the CEO hasn't taken a salary in 3 years, why isn't he selling stock at this "inflated" prices?? sec.gov

To: lostmymoney who wrote (2140)	7/21/1999 9:27:00 PM
From: Nanchate	Read Replies (1) \| Respond to of 4443

ASTN as a standard in the industry 13.July Repost from: boards.fool.com I would like to add to your synopsis of ASTN recent action. I believe we are mainly drifting down on lack of volume. There is apparent accumulation going on by the MM's. The fallacy of "insider selling" is nothing more than that....fallacy. The SEC forms are neither for "insider" or reported actual "selling." ASTN has not only announced the fact that they are going LIVE with VWAP in a couple of weeks, but it has also been added to the Russell 2000. "The system prices each security and processes the transaction straight through to clearing and settlement, with no human intervention and no market impact. Ashton CEO Fredric Rittereiser said, "While various pricing mechanisms based on volume weighted averaging already exist, there is no uniform, objective, industry-wide standard. Our system, with its fully automated algorithms, operating as a facility of a national exchange with the approval of the SEC, has the potential to become the standard for the volume weighted average that investors need." Mr. Rittereiser emphasized, as a unique benefit, "Ashton's VWAP(R) is the only system that combines the means to execute anonymously at the precise benchmark price." "... Ashton will begin the system's rollout in August on the PHLX with a group of institutional customers. This controlled, live trading period, involving a limited number of securities, will serve to validate the features and benefits of Ashton's proprietary electronic system. The system will be expanded in a phased approach to include larger institutions on a global basis." Fred goes on to say, "Initial reaction to the system by major market players has been so encouraging that we would expect to reach critical mass well before the end of the year. Meanwhile, we've been shipping and installing systems to customers who are already enrolled, and we'll continue our efforts to integrate additional institutions, brokers, dealers and third-party vendors," Mr. Rittereiser said. Ashton Technology Group is developing a family of on-line transaction systems using advanced telecommunication technologies, computing technologies, together with data and information security technologies to facilitate global financial transactions. Ashton's proprietary transaction systems are made available to end users through proprietary networks, third parties, and the Internet. It is all about the system going LIVE and that is coming very soon. Once that system goes live and the revenue created is known there will be no more opportunities to prey upon the unknowns of ASTN and allow accumulation at these levels. This recent drift down has taken us to a massive support level here. The rewards to those who buy on this support in the face of the risk they are taking at this moment will be rewarded. Please reread Fred's words. The key is in what he is saying. If this is truly going to be a standard for ATS, try and imagine the valuation given to such a standard. Look at the other standards we have seen. YHOO is a standard in Internet Portals, AOL is a standard in Internet providers, NITE is a stardard in Market Makers, AMZN is a standard in E-Commerce, EGRP could be called a standard in Online Trading. If someone doesn't like these choice I ask you to name then what you see as standards, only as a guideline to what sort of valuations standards achieve. What then could possibly be seen or expected for this company if it were to become the standard for Alternative Trading Systems? This company has roughly 25M shares outstanding and much less in the float. The key is trying to understand the vision ASTN has in this ATS industry and how well equipped they are at achieving this vision. They are neither strangers nor newbies to this field. Time and patience will tell. At this point it is unclear if they truly will be that standard, but with high risk can come high reward. Nanchate