Idle Media Inc (IDLM)

[wadirum1]

I'm sure you know that insider trading is illegal, so I'm not sure which part of my post you're disagreeing with.

Perhaps they wouldn't want to buy even if trading on inside information were legal. I cannot claim to know what is in their minds (or their financial accounts). But I do know that legal issues about what can and cannot be done in this situation are playing a very important role in Frasier's decision-making (such as it is).

He cannot, for instance, issue a tender offer for the shares without telling us how the company is doing. And his lawyers do not believe in using OTC, so it is SEC Egdar or nothing -- which means a tender isn't going to happen.