Tuesday, December 19, 2006 11:07:54 AM
I do not agree with the thoughts that Ed has done something illegal at this time. He did file a Reg D and at the time of filing it was a 506 which is private placement of restricted shares. I believe will will see a new filing very shortly changing it to a 504 which would allow the company to sell shares in public to raise capital. He has 15 days from the date that shares are sold on the open market.
It appears to me like the company has sold approx. 60 million shares on the open market very recently. I started to pick up daily trades in the last hour of trading of big blocks of shares. 3M-5M always at the bid and in the last hour. I posted this information and couldn't figure out how that was anything other than a big buy. I now believe it was the company selling shares to raise capital. That is not a bad thing, BTW! What is bad is doing it behind our backs.
Raising the A/S with the state of Delaware is just wrong. Again, I don't have a problem with it if the reasons are laid out for we investors to see. Doing it behind our back is so corporate America today it makes me sick! That is wrong!
I have a very direct call and message into Ed. I have called many times and I am never the chosen one to get the call back. I believe my message was very clear and if he is calling shareholders back like others have said he will definately return my call. I will report what I find out.
Yesterday was my first day here as an assistant moderator. I did delete a few posts because they were spam, same thing over and over. I left up the original couple, BTW! I believe this board has been run very fair. Those that are making the claim that the moderators here deleted to many oposing views, I totally disagree. I was able to get both views very well over the past month. What I then chose to believe is my choice.
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