To: Pierre Mondieu who wrote (7631 ) 6/14/1998 9:55:00 PM From: Ice Cube Read Replies (1) | Respond to
You are correct if the offshore group pays taxes. They don't. Maybe this one does because of the reporting to the dept. of rev. in Canada, but if it was done through one of their other offices, let's say Turks and Caicos Islands, ( I am using this as an example, I don't know if they have one) I doubt if taxes are paid. Also, when they go against the box, it is to play the stock either way, to have the option of covering if it goes higher, or buy back the short in the open market if it goes lower. Don't forget that offshore, they have NOT sold their stock, they have SHORTED against their position. Big difference. The position stays intact until it is used the cover the short or to be sold. As for the amount of stock that is still left to be sold, I have absolutely no idea. That's what makes it tough. If you don't know where the paper is, you are blind in a deal like this and that's pretty much all I'm saying. Is all the stock gone ? I don't know, and could NOT make a guess because of the games the people who do these financings play. There is no way to tell what is going on, but my gut tells me the financing people are playing this one. That's why the trading has been so rough lately. road show, good news from the company and the stock is net down for that time period. Those are the signs I look for that tell me it's a sloppy market and needs to be cleaned up. Now that I said all this, it will probably go to $3 in the morning !!!! I am just playing the odds in the market, I don't get personal with the stock. Also, the company cannot give you guidence because they are as blind as us. The DTC sheet is only worth so much, this type of market behavior won't show up on it. Also, don't forget the MM's tossing the stock amongst themselves... looks like big volume, but it's just trades among them to keep their books straight. Very common with BB stocks.
