To: ColinD who wrote (296 ) 7/11/1998 4:27:00 AM From: EL KABONG!!! Read Replies (4) | Respond to of 4814
To all, Well, now that this thread may be a little cleaner, I feel a bit better about being able to post here. I have some general questions for anyone familiar with 144 filings, and some specific questions for those of you familiar with EDII. First up, the EDII questions. In what capacity, if any other than major shareholder, do the following people serve EDII: Brian Rodriguez, Rodney Rayburn, Harry J. Brooks and Michael M. Hanna? If the answer is "who knows?", then how did these folks acquire enough shares to make them file a 144? What is the relationship of Elk International Corp to EDII? (Yes, I read the earlier post that said that the owner of Elk was the brother of Daniel Dror, Board Chairman of EDII, but the brothers' relationship does not explain the companys' relationship. For example, was this a simple investment opportunity by Elk International? Or did Elk actually finance one or more of the recent EDII acquisitions, and somehow receive EDII stock in the transaction? If so, was this previously publicly disclosed?) I have the same questions re: Daniel Dror & Company. Even though Mr. Dror serves as Chairman of the Board, Daniel Dror & Company is a separate entity and therefore should have a distinctly separate relationship with EDII. Mr. Dror's personal stock holdings should not be co-mingled with Daniel Dror & Company stock holdings (in my opinion). Next up, the 144 filing questions. When an insider files a 144, they are merely stating an intention to sell , not necessarily an obligation to sell . Is this statement correct? If so, then the 144 filing could mean that these particular insiders are merely preserving their rights to sell in the future, not actually selling. Or it could mean that all six persons/entities have an immediate desire to sell within the specified time period. Either way, we can all agree that it is at least a big red flag for now. Correct? Do the NASDAQ rules that limit the percentage of holdings an insider/officer can sell each quarter apply to BB stocks? Would the NASDAQ rules for BB stocks permit someone to transfer personal stock holdings to another entity without a 144 filing? In light of the new rules coming up in August for BB stocks, is there any reason for insiders to sell in advance of those new rules being instituted? In other words, is there reason for concern on the part of common shareholders that insiders may be trying to avoid (with or without justification) one or more of the new rules? All for now. Thanks in advance for any answers. KJC