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Technology Stocks : Audio and Radio on the Internet- NAVR -- Ignore unavailable to you. Want to Upgrade?

To: Manly who wrote (1122)	12/3/1998 7:20:00 AM
From: Manly	Read Replies (1) \| Respond to of 27722

Here's what a SEC 144 states - after reading this, which way do you think the price of NAVR is headed. I truly believe it's up, he has 90 days to sell these shares and you better believe he's seen what recent IPO's have done to the companies that own a majority stake in the IPO's!!!!!! (i.e. MALL and USAI). Let's go IPO's!!!!!!! No. 3 is interesting as he could have already starting selling his shares. He would be in big do do if they don't bring NetRadio to IPO. I believe it's coming and he wanted some cash now - who could blame him???? It would be interesting to see if he has already sold or knows NetRadio is coming out and plans to sell even higher! Subject: Regulation - SEC Rule 144 Last-Revised: 1 Oct 1997 SEC Rule 144 allows for the sale of restricted securities in limited quantities. Rule 144 generally applies to corporate insiders and buyers of private placement securities that were not sold under SEC registration statement requirements. Corporate insiders are officers, directors, or anyone else owning 10% or more of the outstanding company securities. Stock either acquired through compensation arrangements or open market purchases is considered restricted for as long as the insider is affiliated with the company. If, however, the buyer has no management or major ownership interests in the company, the restricted status of the securities expires over a period of time. Under Rule 144, restricted securities may be sold to the public without full registration (registration is completed upon transfer of ownership) if the following conditions are met. 1.The securities have been owned and fully paid for for at least one year, or upon the death of the owner. 2.Current financial information must be made available to the buyer. Companies that file 10K and 10Q reports with the SEC satisfy this requirement. 3.The seller must file Form 144, "Notice of Proposed Sale of Securities," with the SEC no later than the first day of the sale. The filing is effective for 90 days. If the seller wishes to extend the selling period or sell additional securities, a new form 144 is required. 4.The sale of the securities may not be advertised and no additional commissions can be paid. 5.If the securities were owned for between one and two years, the volume of securities sold is limited to the greater of 1% of all outstanding shares, or the average weekly trading volume for the proceeding four weeks. If the shares have been owned for two years or more, no volume restrictions apply to non-insiders. Insiders are always subject to volume restrictions.