TAP Real Estate Technologies Inc (RWAX)

[NoMoDo]

Any preferred B that was selling (cough.. Grado) is hurt by a RS. They can only convert 3% of their pref B each month and even the talk of a RS hurt (his) remaining shares tremendously. At any float below 400mil shares, they will have a miserable time selling shares - at least without a major discount or a package deal. I personally hope Foote waits until mid Dec to do the RS as it will give someone time to dump more of his shares so that after the RS he will be a non factor.

Not sure why Foote didn't work out a deal to buy back those shares at $2/share at a given date when the price was $5. That would have made everyone a lot more happy.