is…out the door and not looking back…
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I got it from someone else and he worked hard for it, but Joshuaeyu may have it. I really don't know.
Anyway, this was posted there a couple of days ago and if you read through other posts there, they come true.
This should whet anyone's appetite that is a shareholder. They're not BS. Ignore the dates, I think they get lost in translation. (Obviously, it's not the 13th)-
It would be a Form 4, but he's no longer an insider. He no longer needs to file anything. His shares come from authorized. They don't hit the daily volume.
We'll probably never know if/when he exercises. He gets immediate vesting (instead of waiting 3+ years for them to vest) of probably close to 10 million or so options that he needs to hold for a year to get long-term capital gain tax treatment that he can start selling off just when his severance package and health insurance benefits expire and take a guess if he plans on selling into low volume or a low price. I don't think he's sitting home pining away about his early "termination." I feel like this was totally planned by him - one year contract, selling 400 mill shs to a guy from China who already is a leader, and giving up those 3 Board seats that he knew would seal his fate and/or certainly hurt his ability to get everyone to go the way he wanted the Board to vote. This is a great deal for Steipp, but he has to believe they'll be a large appreciation in price to sign off on it because he has to exercise/pay for all those options within 90 days of termination. I could have sworn he had some in the .20's, but might be wrong on that.
FWIW, I think we'll see a steadying increasing price and then something really special the closer we get to the Apple launch for the 10th Anniversary iPhone made of "glass." Just seems to make a lot of sense.
Yes, and late on a Friday when the last things a trader wants to do is work after 2pm as well as hold a position over the weekend.
What is the point of this?
Haha, maybe it won't be that Long. And we have Tom Steipp to thank!
Things are lining up - Chung purchase by a CFO tied now into the new leadership, CEO "firing" after giving up 3 Board seats knowingly accepting his fate, but leaving with 10 million + of options that are immediately exercisable and have to be purchased within 90 days of his termination wherein his severance package expires in just a year, and a results-driven, largest shareholder, and COB, with all the science and manufacturing experience to make this work, who wants to uplist and is ready to steer the call on this coming Thursday. Should be a very interesting week!
no. c.c. next week with new execs and CFO just bought 1.6 mill shs on 11/30 at .18+.
charts shmarts - it's all about the Chung Effect. He knows.
Oh man, it's getting cold in here...
Wow!!! Eon up, while all major competitors, especially Hibei, were down!
https://www.google.com/finance?cid=853317561149216
See? Irrelevant...
Speculation as to new CEO?
Q4 2016. Deal closed October 26th.
I would be somewhat surprised if new CEO is not Bresnick - young, aggressive, exec and co-founder with Lugee at Leaderbiomedical, attorney, industrial design background, etc. Would appear to be a good fit for the focus and energy needed.
I know that, but my point is that when you see a pattern like that and that kind of drop-off, you don't need trading software to determine it was a T Trade - dead issue. GL.
Tony Chung, CFO, bought 1.6 mill shs in open market on 11/28-11/30.
That is a quote from the SEC website. If someone has a vested interest in something, and are also trying to prove a one-sided point, will they also want to give the negatives? It's much more complex than that.
First, you have to prove "scienter" (fancy term for intent, but intent at a very, very high level - e.g., the murderer was seen killing the victim, he is standing there with the bloody knife, 20 witnesses saw it and when the cops arrived, he was still standing there with said knife in his hand, while yelling out to all there, "Yes, I killed him and I did it because he beat me in a business deal (while detailing specifics of the business deal), and I lost a million dollars!!!"). Secondly, there is nothing "classic" about an insider trading case. Did he tell you something was up? He didn't tell me or anyone I know he KNEW, not "thought," something WILL, not "may," occur with 100% certainty, and it did happen.
Anyway, you cited the SEC's position, but the cases are EXTREMELY rare, unless the info was transmitted to others; that is the "classic" case, but still very, very difficult to prove. You essentially need an admission. "Yes, I admit I told the other guy and this what I got in return and he sold right away and he made huge dollars off it."
There's a recent Leon Cooperman case where he ADMITS he got insider info from an insider, but the SEC has still got a huge uphill case. The cases are also usually only high-profilers with big dollars who got the info from an insider stupidly telling them - think Martha Stewart, Phil Mickelson, Cooperman, etc. and you can bet it was because the insider decided to cooperate, so they had a great case against the 3rd party. Bottom line - if you're an insider, don't tell anyone else (most importantly), don't sell right away, and you're good.
There is nothing "classic" about Chung buying in other than he "simply has faith in the Company." That's the correct and standard answer that will NEVER put an insider at risk and the longer the insider holds, the more the trade becomes "old and cold." He's being smart about it and playing within the rules. Like him or not, you can't fault anyone for playing within the rules.
FWIW, to highlight the point, here's a very good insight where the SEC admits unbiased difficulty as determined by the ultimate arbiter - the courts:
http://dealbook.nytimes.com/2014/06/02/the-perils-of-a-circumstantial-insider-trading-case/
Executive summary-
You can rip Steipp all you want and I get it for the lack of action for years, but I'm not so sure that with anyone else in place, this Company necessarily stays alive long enough to get this deal closed.
All Hail King Lugee, though - just the beginning.
WOW! GREAT FIND!!!
What does this mean for LQMT? This is the LQMT board...
Yeah, but Eon is down.
SMH...
They're shelling out cash for joint ventures. Less money available for dividends - which is all Chinese investors mostly care about. He's probably shifting BMG's to LQMT from Eon and if you move down the page - AGAIN - Hebie Sitong was off 3%, Eon 2.5%.
This is the LQMT board. Not sure if there is one for Eon. Might want to start one. GL with the new board.
Thanks, but I mean in terms of someone buying at market like that. Who knows? I guess we have to just let it all play out and play, "Follow the Tony." GL.
.20 was an important psychological barrier to break through not just because we're close to a 52 week high, but because the momentum appears to be building, it had been stuck in the teens for so long, and it's all happening with almost no news except for Chung's 588K share buy.
Now we need those 2-4 cent chunk days to get to the next levels. Chung knows it - couldn't ask for a better buy signal. Too bad we didn't know BEFORE he bought.
Never heard of that before. Interesting. Makes some sense, though.
I'm trying to think where the negative to that would be. The positive is buying in not wanting to wait on a bid to execute as well as trying to "hide" the bid.