Southmark Corp (fka SMRK)

[Enterprising Investor]

Updated holdings 218,007 (10/12/09)

Purchased 54,000 on 10/12/09 at $.005.

The first 15,000 was made up of a 10,000 and 5,000 blocks traded within 30 seconds. The bid/ask then moved from $.028/$.005 to $.005/$.009. The additional 39,000 shares at $.005 showed up just over 40 minutes later.

An additional 5,000 shares moved at $.045 later in the day, and the bid/ask went to $.0045/$.005.

Thus, it may be impossible to pick up meaningful amounts of shares without pushing prices up dramatically. The average number of shares traded from 8/12/02 to date is only 15,236.

Since I began making new purchases on 8/06/09, 716,697 shares have traded. I missed an opportunity - on 8/14/09, 301,414 shares traded at $.0003.