gtv, actually, this can't be restricted shares even if it were to make sense :) You can't sell restricted shares. There are some special cases where restricted stock can be sold between the 1 and 2 year time period but it is very limiting and I believe the company has to agree to it on top of the other restrictions. One of the most limiting criteria is you can only sell 1% of the o/s over a 90 day period. This is only ~500k over 90 days so that doesn't work. I posted a while back more details on this and copied that post below. Post 18812 if you want to look at it...
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Manti, I've been trying to figure out the constant AH prints as well for quite some time and have looked a little into what you are saying. I don't believe it is the selling of restricted stock for several reasons.
First, the only volume restrictions on the sale of restricted stock is if it is within the 1 to 2 year period from the time of purchase. Even then, IF it were this, it can only be 1% of the total outstanding shares over a 90 day period. Even if using 50mil, that would only be 500k shares for 90 days and we've seen CONSIDERABLY higher than that with most days over 100k and the other day even had a 400k print. Aside from this limitation, IF there were any selling of restricted stock between the 1 and 2 year period, this MUST be reported. It would either be in the quarterly report or listed as a filing on yahoo or pinksheets if the company doesn't file quarterly. I've been in other pink sheet stocks where I have seen this type of filing occurring. There is no filing for this selling for the ticker HMGP and so this is another reason it isn't the selling of restricted stock.
Also, if this were being done, it can't be done through any type of special "deals" with these sales. They "must be handled in all respects as routine trading transactions, and brokers may not receive more than a normal commission. Neither the seller nor the broker can solicit orders to buy the securities". Therefore, there would be no need for the after hours "prints" and any sales would occur during normal trading hours.
All the above, plus more, plus Hemi isn't aware of any insiders selling and with the amount of volume we've seen in these after hours prints, they'd know.
Again, it is my opinion these are transactions between MMs and don't have anything to do with investors, the company, or insiders "trading" the stock. I think it may have something to do with the cert requests but not sure. I just don't think it is anything like trades done during the day and then printed late or anything like that... it is shuffling of shares between MMs for "accounting purposes" likely due to them getting very close to being "caught" in their naked shorted positions... IMO.
