To: Francois Goelo who wrote (4568 ) 10/4/1999 9:22:00 AM From: StockDung Respond to of 10354
By: EGB2 Reply To: None Saturday, 2 Oct 1999 at 7:13 PM EDT Post # of 10727 My understanding of the Rules when stock is UNLOCKED is that the potential vendor is restricted to selling no more than 1% of the total outstanding shares every 3 months... In this case, this works out to about 270,000 shares per Quarter or about 4000 shares per trading day... Definitely not a huge amount... Get a better securities attorney Francoise. law.uc.edu Section E. Limitation on amount of securities sold. Except as hereinafter provided, the amount of securities which may be sold in reliance upon this rule shall be determined as follows: Sales by affiliates. If restricted or other securities sold for the account of an affiliate of the issuer, the amount of securities sold, together with all sales of restricted and other securities of the same class for the account of such person within the preceding three months, shall not exceed the greater of one percent of the shares or other units of the class outstanding as shown by the most recent report or statement published by the issuer, or the average weekly reported volume of trading in such securities on all national securities exchanges and/or reported through the automated quotation system of a registered securities association during the four calendar weeks preceding the filing of notice required by paragraph (h), or if no such notice is required the date of receipt of the order to execute the transaction by the broker or the date of execution of the transaction directly with a market maker, or the average weekly volume of trading in such securities reported through the consolidated transaction reporting system contemplated by Rule 11Aa3-1 under the Securities Exchange Act of 1934 during the four-week period specified in subdivision (ii) of this paragraph. A little volume spin, which has been known to happen on this stock several times, and they can sell all they want. But again, why would they sell a pittance of restricted shares now when they've had free trading shares to blow out for months. But of course you know this don't you Francoise. Alpha6. Funny that you should protest so strenuously my pointing out the similarity in posting of a few people on here and the 5 ZSUN touts that got kicked off Silicon Investor. Funny since you started posting on here the same time as those touts on SI. How's your buddy Cazador? You remember him doncha? The guy that claims to be in prison, that never posted here until you asked him a question in one of you first posts. The guy that says he's going to do bodily harm to Flodyie when he gets out of the big house. How's things in the Philippines, or do you not get back that way much anymore? CM Burns