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Non-Tech : Individual Investor Group (INDI) -- Ignore unavailable to you. Want to Upgrade?


To: lloyd bashaw who wrote (1005)2/14/1999 9:23:00 AM
From: lloyd bashaw  Read Replies (1) | Respond to of 1129
 
Not Short Not Long
Tired of Pump and Dump

Robbie,

You are assuming I am short INDI. The fact of the matter is I dont even have a margin account. I am just tired of seeing weak plays pumped and dumped onto newbies.

Lloyd



To: lloyd bashaw who wrote (1005)2/14/1999 9:52:00 AM
From: mod  Read Replies (1) | Respond to of 1129
 
Lloyd,

You should read the fine print in the Stock Purchase Agreement. The Wise Partners shares are not convertibles, are not registered and can't be sold for 2 years, so they are not going to be sold Tuesday. Disclosure: I am not short or long on this stock (I have been long briefly in the past), and don't intend to take a position Tuesday.

<<(c) Buyer is purchasing the Shares for his own account for investment and not with a view to or in connection with a distribution of the Shares, nor with any present intention of selling or otherwise disposing of all or any part of the Shares, except as contemplated in Section 5.1 below. Subject to Section 5.1 below, Buyer agrees that Buyer must bear the economic risk of its investment because, among other reasons, the Shares have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or under the securities laws of any state and, therefore, cannot be resold, pledged, assigned, or otherwise disposed of until they are registered under the Securities Act and under applicable securities laws of certain states or an exemption from such registration is available. Promptly upon Buyer's request, after the expiration of the two-year holding period provided for in the SEC's Rule 144(k), provided that Buyer is not then and for three months prior thereto has not been, an affiliate of the Company within the meaning of the SEC's Rule 144(a), the Company will exchange the Buyer's stock certificate (legended as aforesaid) for a new certificate with no restrictive legends thereon, suitable for transfer in the public securities markets, subject to the Buyer's providing the Company with such usual and customary representations in connection therewith as the Company may reasonably request.>>



To: lloyd bashaw who wrote (1005)2/14/1999 10:11:00 AM
From: mod  Read Replies (1) | Respond to of 1129
 
Similar deal with Great American Insurance Company. Shares are not registered, and can't be sold Tuesday. Neither of these deals will add to the float until the shares are registered, which won't happen for 2 years or unless they are piggybacked onto a secondary offering by the Company.