DNAprint Genomics (DNAG)

[frogdreaming]

I'm not making this up.....as you seem to be.

The SEC rules that apply to insiders are based on specific definitions of 'Insider' as designated by the SEC. They are not variable based on specific knowledge. (You don't have to pass a test to be designated a company insider.)

The SEC specifies what an insider is, they don't care if you have taken advantage of your position or not. If you are an insider according to their rules you are subject to their restrictions. Ignorance is no excuse.

Read what Superbee posted, and see if it applies to you.

Corporate insiders-meaning a company's officers and directors, and any beneficial owners of more than ten percent of a class of the company's equity securities...

Looks to me like your are considered an 'Insider' whether you have information or not.

As a sanity check on your assertion that specific knowledge is required to qualify as an Insider, consider the following;

If a member of management violated the SEC rules that pertain to insider trading, do you think he could argue that he was 'out of the loop' on certain business matters and was therefore exempt from the restrictions? Or do you think that such a ploy would be dismissed out of hand?

regards,
frog