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Non-Tech : Cityscape Financial (CTYS) -- Ignore unavailable to you. Want to Upgrade?

To: bsl113 who wrote (1800)	12/13/1997 2:04:00 AM
From: Jolo	Respond to of 2544

This was a while back, but if I remeber correctly, Michael Price did own a huge block of this company. As a matter of fact, he tout this stock in an interview on I think the Nightly Business Report as a major turnaround play. About 1 month ago, WSJ ask him to comment on this stock after the drop from $10 to $3 and this is what I think he said, "we fact out blew it, I admit I didn't personally research the company myself, but by an analyst whom is no longer in the company." This is strictly off memory, but I believe that's about right.

To: bsl113 who wrote (1800)	12/13/1997 10:09:00 AM
From: Bruce A. Thompson	Read Replies (1) \| Respond to of 2544

Bryan, I've now read it over & over. IMHO it says at the end if the month of November, they owned a total of 4.1MM shrs. If you go to: edgar-online.com In that Notice of Annual Meeting, they disclose that Franklin owned 4,506,000 Shrs. By definition any person or firm owning more than 10% is considered an insider. As such, they must file form 3,4,5 to notify the SEC of any sale of stock. They filed that form 3 on November 10, 1997. Apparantly, they sold 500,000 shares because in your linked page, at the end of the reporting month (Nov 30), they then only owned 4.1MM shrs. Looks like now they are no longer considered insiders in the eyes of the law and can sell the rest without notifying any one. How many shares in excess of the normal float haave been sold in the last 13 days? Who knows if they sold the other 4MM shares? I would have if it were me. Could their sale of 4MM been the cause of the recent <$1 drop? We wont know until the next Notice of Annual Meeting. My question now is Why is Zacks saying the Co. is 34% owned by institutions? May you live in interesting times. Bruce