Tuesday, January 09, 2018 11:32:44 PM
Yes, in the amended Schedule 13G/A, Sabby Management and Hal Mintz did report a 6% reduction in the beneficially owned shares that they previously reported in the Feb 2017 Schedule 13G from 250,000 to 235,461.
However, also in the amended Schedule 13G/A, it was discolosed that “Sabby Healthcare Master Fund, Ltd. and Sabby Volatility Master Fund, Ltd. beneficially own 154,264 and 228,718 shares of the Issuer's common stock (common shares), respectively, representing approximately 3.27% and 4.85% of the Common Stock, respectively.”
It was previously disclosed in the Feb 2017 Schedule 13G that “Sabby Healthcare Master Fund, Ltd. and Sabby Volatility Master Fund, Ltd. beneficially own 125,000 and 125,000 shares of the Issuer's common stock (common shares), respectively, representing approximately 2.74% and 2.74% of the Common Stock, respectively.”
So doing the simple math:
- Current holding: 154,264
- Previous holding: 125,000
- Increase in holding: 29,264 or 23%
and
- Current holding: 228,718
- Previous holding: 125,000
- Increase in holding: 103,718 or 83%
Therefore, the combined share gain by both funds together is 53%, compared to the 6% decrease for Sabby Management. Note that Sabby Management and Hal Mintz do not directly own the 235,461 shares disclosed in the SC 13G/A.
Since Sabby Management and Hal Mintz are institutional investment managers with >$100,000,000 in assets under their management, they are also required to file Form 13F on a quarterly basis to disclose their positions. Sabby’s latest 13F and associated 13F-HR (holdings report) were issued on 11/14/17:
www.sec.gov/Archives/edgar/data/1535610/000114420417058670/xslForm13F_X01/primary_doc.xml
https://www.sec.gov/Archives/edgar/data/1535610/000114420417058670/xslForm13F_X01/infotable.xml
Per the 13F-HR, on 9/30/17, Sabby Management disclosed their holdings that included 70,000 shares of Sigma Labs common stock and 246,519 warrants. Their next 13F for the period ending 12/31/17 is due in 45 days (2/14/18).
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