Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Microcap & Penny Stocks : HITSGALORE.COM (HITS) -- Ignore unavailable to you. Want to Upgrade?

To: ETS/316 who wrote (162)	3/26/1999 6:12:00 PM
From: Jim Spitz	Read Replies (1) \| Respond to of 308

In the SEC filing, they mention that the major shareholders of SCMI are restricted from selling more than 20,000 shares per week or 1% of the previous weeks average volume which ever is smaller. AND they can only start selling AFTER the price of HITS has reached an average daily price of $5 for 5 of 20 consecutive days. So, until the price is $5 for 5 days of a 20 consecutive day period, they can't sell any of the other 5 million in the float. After that time, they can only sell 20,000 or 1% of the previous weeks daily volume. Of course, I assume that EACH of the major shareholders can sell that much, but there weren't that many of them, so it should work out fine. This is included in the SEC 8-K filing so anyone can read it. You're welcome, jimS