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tenenbaum

12/13/10 7:25 PM

#63232 RE: joenatural #63231

Do you have an open position in LPH now?
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Bob Stocks

12/13/10 7:29 PM

#63234 RE: joenatural #63231

Wow, nice find man.
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realfast95

12/13/10 7:41 PM

#63235 RE: joenatural #63231

LPH - They are warrant holders forced to convert at the fixed price for cash and not cashless which was an indirect stock buyback by the company. They were already included in the diluted share count. So additional shares could be in the 13 million range.

At least that's how I read it. Obviously wrong.
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SSTChicago

12/13/10 8:25 PM

#63238 RE: joenatural #63231

The company did file an S-3 Registration statement giving all investors in its earlier private placements the opportunity to sell a portion of their holdings. This filing does not indicate that the shares will be or have been sold, but gives holders the option should they desire. Remember, the investors listed in that table have been holding these securities for more than a year.
Companies raising money have to give their investors liquidity at some point, or the investment flow would slow down. Most investing institutions require the issuer to file these type of registration statements within a certain time frame.
As for our fund, I'd note that this registration statement only covers two-thirds of our holdings...while some of the holders have all of their shares registered. Finally, our fund was the largest buyer of LPH stock and helped encourage participation by other funds.
We continue to have a favorable opinion of LPH and its prospects- but may also be a seller as the price rises, or better investment opportunities present themselves. That is the way capital markets should function.
As a final thought, remember that most investors can sell private placement stock after one year, under Rule 144 - regardless of whether or not a registration statement has been filed.
Hope this adds to the discussion,
Stephen Taylor
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SaltyDawg

12/14/10 5:15 AM

#63267 RE: joenatural #63231

LPH: Excellent find and expose, Joe. A farking slug. eom