TheGlobe.com Inc (TGLO)

[Toxic Avenger]

This is totally and completely wrong. It's as wrong as the notion that hedge funds don't need to report their ownership. There's a reason Egan kept 4.99%.

ANYONE OWNING 5% OR MORE OF TGLO, OR ANY STOCK MUST FILE A FORM 13 INDICATING INITIAL OWNERSHIP AND THEN FOLLOW UP CHANGES = INCLUDING PURCHASES OR SALES, WITH A FORM 4.

http://otclawyers.com/what-is-beneficial-ownership-under-sec-rule-144/

Pink Sheet Issuers Must Disclose Owners of Greater Than 5%
Pink Sheet Issuers who want to maintain the OTC Markets Pink Current designation must disclose in their filings the names and addresses of all parties that “beneficially own” greater than 5% of their Shares, even though these Shareholders are not considered Affiliates under Rule 144 unless they own greater than 10% of the issued and outstanding.

With this in mind, large Shareholders that would rather not have their names and addresses in an OTC Markets Information and Disclosure Statement should stay at 4.99%. Likewise, those who do not wish to provide the SEC with notice of their beneficial ownership, must also stay at 4.99%.