Aduddell Industries (fka ADDL)

[Sekrah]

Sigh.. Another concern.

In connection with the terms of the Agreement and Plan of Split Off and Merger, signed September 27, 2002, Tim Aduddell was granted an option to purchase 30 million shares of common stock for $0.04 per share. On June 7, 2006, 1,471,182 of these options were exercised, and the underlying shares were redeemed in payment of debt, leaving 28,528,818 options outstanding

Aduddell holds 28m+ in options? Not looking as good as it did a few hours ago as I begun by DD. Might still play it to see if I can grab a 30-50% hurricane pop.. Probably more % gain than that in there but I'm not going to risk it seeing management hold more than 50% of the current O/S (52m) in options is very troublesome. They're going to need a natural disaster to turn income and another year without hurricanes (certaintly possible) might put a major cramp on this comapny.


Still might give it that hurricane shot though, not as high on it however. Management seems to be looking out for #1 first and shareholders second.