Sorry, I don't buy your explanation that the decrease in shares held by Mr. Maguire is due to warrants expiring. Warrants give the investor the right to purchase shares at a specific price until some specified future date. Warrant shares are not included in ownership filings until the warrants are actually exercised and the shares issued to the investor, just as the warrant shares are not included in the total reported outstanding share count until they are exercised.
Perhaps Mr. Maguire decided to reduce his share position for other reasons. Wasn't he trying to get on the board of this company for some time? Since that hasn't occurred, his sentiments toward the company may have changed.
Would it be possible to unload a large number of shares at a set price through a private transaction with another investor or market maker so that the transactions don't show up in the public trading volume or adversely affect the share price?
I'm tossing out possibilities here. I don't believe that expiration of warrants is valid for why his share count dropped so dramatically. Clark's and Estrella's reported share figures don't include the shares related to the warrants they hold, at least when I add up their holdings related to their awards and direct fundings.
Oh, and since I'm limited to only 3 posts a day... my name is not Rob, or Robert. I posted a news release on another board about 4 hours after it hit the wires, and as a result someone lacking in reasoning ability claims they know me.
AI
