SunWorks Inc (SUNWQ)

[Grizzly22]

I've been wondering this same thing for a long time.

It's not my area of expertise (along with grammar) but here is my reasoning:

The finance company who owns many of these shares are not insiders because they don't work for SUNworks/S3D. So they would not show up under insider sales in SEC filings.

If they own over 5%+ of outstanding shares, they will have to file under the 13D SEC filing (within 10 days).

If they own over 10%+ of outstanding shares, then there is an additional filing.

But if they are not insiders and they do not own restricted shares, then i believe there is not a SEC filing attached to their actions.

here are a few quotes i found that might be enlightening:

For clarity, the Form 13D is a required filing by any entity that becomes a 5% holder. This filing must be made at the time (within 10 days) the holder crosses the 5% threshold. Form 13G is the same form, but used when the person or entity is making the purchase for "investment" only.) Additional purchases by this holder do not have to be reported on Forms 3, 4, or 5, until the holder crosses the 10% threshold.

Insiders who purchase or sell stock on the open market, just as any other investor, have to file these transactions on a Form 4 filing, but do not have list sales with a Form 144.

To muddle things up I'm not sure if they filed as soon as they acquired the notes from S3D. The filing might take place when they convert them into actual shares. and I'm not sure what happens if they slowly convert and sell shares, thus never crossing that 5+% threshold.

http://www.briefing.com/investor/learning-center/general-concepts/sec-filing-requirements-for-insider-trades/


anyone have anything more concrete?