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Microcap & Penny Stocks : Amazon Natural (AZNT) -- Ignore unavailable to you. Want to Upgrade?

To: s martin who wrote (9214)	10/22/1998 11:54:00 PM
From: Arcane Lore	Read Replies (4) \| Respond to of 26163

... In a complaint filed in U.S. District Court last month, Amazon says it agreed in March to sell two First Concorde clients -- Whitecliffe Investment Fund Ltd. and Shoreline Securities Ltd., both also of Cancun -- 4 million shares for $1 million. Amazon sent the shares, along with 480,000 shares Mann asked to borrow, to Whitecliffe and Shoreline, but the money was never paid, Sylver says. Sylver explained the shares were marked restricted, and were not to be re-sold until 40 days after Mann sent Amazon the money. ... Hmmm - $0.25 per share (as noted in the post I'm responding to), but the shares have to be held for 40 days. During March, AZNT prices ranged between a low of 5/8 and a high of 1 3/8 according to #reply-5570777. So the shares were being sold at a discount of somewhere between 60% and 81.8% from the prevailing market price. While a certain discount is to be expected given the 40 day restriction, the size of the discount in this case appears excessive IMO (though perhaps not if one considers AZNT's fundamentals). One other aspect of this that may be of note. Given the 40 day holding period, this transaction was presumably based on regulation S which, at the time, permitted the sale of shares to offshore parties with a 40 day restriction period. Regulation S transactions by reporting companies require the filing of a Form 8-K within 15 days of the sale* ( sec.gov ). Has anyone seen that AZNT 8-K? * On Jan. 1, 1999 different reporting requirements go into effect.

To: s martin who wrote (9214)	10/23/1998 12:03:00 AM
From: Janice Shell	Read Replies (1) \| Respond to of 26163

Why, yes, it looks as if AZNT quite deliberately negotiated to sell shares offshore below market price, doesn't it? I wonder why they'd want to do that? Amazon sent the shares, along with 480,000 shares Mann asked to borrow, to Whitecliffe and Shoreline... So Sylver lent Mann shares to short. I see. And now they're complaining about "illegal" shorting. Of course we do need to examine the question of WHICH Sylver lent the shorted shares. Mike? Or Gary, through Titan Investments. Let's not forget that Gary and Titan are also plaintiffs in this case.