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To: Richard Babusek who wrote (6244)1/8/1998 12:28:00 PM
From: JakeSki  Respond to of 10368
 
I am not surprised that the Harringtons as registering to sell some of their holdings. They are the Darlington folks right? If I remember right, they have been in business for quite a while, and now that they have 'liquidity' they probably want to enjoy some of the fruits of their labor - take some of the cream off the top if you will.

I think you are right on, they are filing so that they *can* sell if the opportunity arises. This is a good think in my opinion - they may be expecting a rise in BNGO. Remember, the 1M shares were at 8 when they inked the deal.

-- George



To: Richard Babusek who wrote (6244)1/8/1998 12:29:00 PM
From: mark cox  Read Replies (1) | Respond to of 10368
 
Richard I've been to all of the Edgar sites trying to find an idepth description of the S-3 filing. I can't find one that tells about the specifics of 'when' an insider must sell his shares after he registers them. All I know is that in the actual S-3 it says what I mentioned before:

This Prospectus relates to the offer and sale from time to time by
certain selling securityholders


I take that as meaning they can sell some whenever they want.

On Monday the 5th of January they put out a POS-AM which is an amendment to the S-3 and in it it says:

Approximate date of proposed sale to the public: From time to time or at
one time after the effective date of this Registration Statement as determined
by the Selling Securityholders.


That is saying that they can sell some or all after the date of the registration.

Mark (LWAY) Cox