To: Jim Johnson who wrote (3074 ) 10/6/1998 11:30:00 AM From: Zeus549 Read Replies (3) | Respond to of 4230
Jim, Just to expand a little on my Form 10 thinking and why I've been harping on it. Today, GW made a very positive announcement. In the past this would have sparked a pretty intense round of buying and we would see the shareprice move up in tandem. Today (at least so far) it has been pretty disappointing. The MM's, ever vigilant, set the initial pre market opening up as usual for these kinds of announcements. They soon realized that the buying pressure of the past just wasn't there and wasted no time moving it back down.My conclusion is that the Form 10 filing or the lack thereof is much more important for this stock than these kinds of announcements. Filing a Form 10 and being a voluntarily reporting company is a BIG deal. Something is holding them up from doing it. They have had plenty of time and opportunity. They have apparently spent many hours of attorney's time on it. Sorry, for now I'm not buying the delay. My own personal opinion is that if the information is accurate and available (why wouldn't it be) then what's the problem? Have they ever said why their first application was rejected? Not to my knowledge. On several occasions, they have intimated that it would just require another few days and that would be it. After a while, this tactic starts cutting into the companies credibility concerning this issue. IMO, that is why we are where we are with the current shareprice. I'm sure others have a different view of things, but this is mine and for now I'll stick with this reasoning until the company proves this assessment wrong. Hopefully, they can do just that, but I am not holding my breath. None of this may have any bearing on a possible short squeeze though as that is whole different issue.