SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Microcap & Penny Stocks : Investment strategies for bottom feeding -- Ignore unavailable to you. Want to Upgrade?


To: Scott Mc who wrote (13)4/21/1998 10:50:00 PM
From: Johnny X  Respond to of 15
 
Scott,
Thank you for information. It's something I can use, and will. The information I posted, I think you'll agree, shows the company to be legit. I believe I'm correct when to say that many "insiders" buy and sell, this is not illegal. Right? I recall one official of another company selling shares because his wife wanted a certain house. The stock price continued to go up (I bought into that company the first time at .33c, its now over $4, albeit it is recovering from a jolt when it was at $7.) The point is, inside selling or buying is not illegal, it's expected. Many salaries are partially paid in shares, even at big companies like IBM.
All of this might have been avoided had you simply began by asking me if I worked for the company or some such, as I see you've done elsewhere, as opposed to accusations.
But enough said; a sincere thanks for the information.



To: Scott Mc who wrote (13)4/22/1998 2:00:00 PM
From: Johnny X  Respond to of 15
 
Everybody - just a quick response to the insider trading post, since it's on this thread, I'll answer it here:
G. Kwong is no longer an insider, so it's unclear why he's filing as an insider. He was an executive with the company, but isn't any longer, one would expect he might sell his shares. It may be that there's a period of time after one leaves a company that they must continue filing.
G. Wing was a director, likewise no longer with the company.
S. Lew, is the CFO, I spoke to him about why he sold some shares (not that many, imo) this year, and his explanation made sense. I don't feel justified in posting it, it's basically a private matter.
Which brings us to the options: employees are compensated for their work partially by options. To exercise these, they have to pay a fixed price; Microsoft, Homebase and a lot of big companies (which started small) give shares or options to their employees, even now, and have created quite a few millionaires. Options are used to attract high-quality people, including those who might focus that much more on the well-being of the company because they have an interest in the company more than just a paycheck. Some people may sell stock to pay for exercising the options. There are deadlines which must be met, that is, if they don't exercise the right to convert the options, they lose them.
The shares mentioned in Scott's post include those sold in December of 1997 in a private placement to raise money for product development and increased sales efforts to place the product in stores (which they are succeeding at very well). They were issued the first quarter of 1998, but are restricted from being sold at this time. A good reason for a safe deposit box.
Everything looks fine. Hope things are going well for all of you, also.