loanranger LOL -- I really thought you and I were making progress. Then you had to jump back into the item (v) regulations. Re: As HG and I have mentioned, don't be thrown by the term "issuer"..........it's not the same as "filer" in this circumstance. The word "issuer" has nothing to do with what the argument was about. So please, stop using "issuer" as a reason to get out of the corner. The proper way to report the amount of beneficially owned securities of form 4 is -- the excel way, cumulative. <img src=http://images.investorshub.advfn.com/images/uploads/2009/10/30/deyptUntitled_2.jpg> You can agree, or you can disagree; but as far as I'm concerned Section (v) has nothing to do with the argument -- And section (v) does not support your argument that column 5 is not required to be cumulative! Have a nice weekend.