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Microcap & Penny Stocks : THNS - Technest Holdings (Prev. FNTN) -- Ignore unavailable to you. Want to Upgrade?

To: Jim Porter who wrote (3758)	8/18/1998 3:50:00 PM
From: Kevin McKenzie	Read Replies (2) \| Respond to of 15313

To All: I must admit, jp's question gives me pause for thought. I have a call in to MS regarding the true number of authorized FNTN shares. One possible scenario that would account for the high number of shares in the 144 filings is that the 1% is cumulative. That is, if they don't sell any in one month, they can carry over to the next. Ie, if the haven't sold any for 6 months, they can sell 6%. Any answers yet from those of you with more regular contact with FNTN officers? Kevin

To: Jim Porter who wrote (3758)	8/18/1998 4:26:00 PM
From: Radim Parchansky	Respond to of 15313

About selling shares of AMZN: boards.fool.com. Look at the message posted date! Radim

To: Jim Porter who wrote (3758)	8/18/1998 4:33:00 PM
From: Radim Parchansky	Read Replies (2) \| Respond to of 15313

At 1% per Q it would take 100 Q's to sell all holdings (well this must be more to the rules - maybe limited to the first year etc.). On the other hand if it is allowed to sell 10% that would be 1.6M for MS & 1.6M for MM or 3.2M lets say 4M+ of shares hold by insiders. Makes more sense. Radim

To: Jim Porter who wrote (3758)	8/18/1998 4:49:00 PM
From: Radim Parchansky	Read Replies (3) \| Respond to of 15313

From SEC rules: The Basics of Rule 144 Rule 144 is used for sales of restricted stock by any person and for sales of restricted and non-restricted stock by or for the account of an affiliate. The conditions contained in Rule 144 with which one must comply in order to meet the safe harbor for non-underwriter status concern available information, the length of time the person has owned the securities, and the amount of securities sold. First, public information regarding the issuer, i.e., reports periodically filed with the S.E.C. by reporting companies, must be available. Second, generally, the seller must have owned the securities for at least one year. There are extensive rules concerning when one may "tack" onto his own holding period the length of time a previous owner held the securities. Also, for holding period purposes, securities are not fungible. The holding period requirement does not apply to affiliates selling unrestricted securities. Third, one may only sell under the Rule in any three-month period an amount equal to the greater of 1% of the outstanding shares of the issuer or the previous four-week period's average weekly trading volume of the issuer's securities. The sale must also be through a broker or market maker. flemingoneill.com

To: Jim Porter who wrote (3758)	8/19/1998 10:28:00 AM
From: ilh1	Respond to of 15313

Jim Porter, as you see reflected in the decline of FNTN today, that bad info, intentionally or unintentionally, will kill a stock every single time, without fail. (The large blocks sold is by those that had holdings, no doubt, in the under .60 cent range to lock in profits. The only positive to this sell-off is that it will make for a stronger/greater share base in the dollar plus range rather than having a greater share base in the under .60 cent range. The higher/greater their percent gain, the least likely you can truly count on them as a long term holder, and that is what is expected.)