MLM,
I noticed something interesting in the process of doing some research for a post this morning.
You said: "they could have filed form 4 if they wished, and wanted to give their PR more teeth".
I responded with "they couldn't file a Form 4 without filing a Form 3 first anyway......it's called INITIAL filing of beneficial ownership. And SEC filings are supposed to be filed because they are required, not to provide promotional support."
While I DO feel that the use of an unrequired SEC filing for promotional purposes is an abuse (given that the cost of administrating the SEC is a burden EVERYONE bears and that they should have more important things to do), I was foolish to think that it doesn't happen with some frequency.
There were two Form 13G ownership filings made in late 2008 (obviously PRIOR to the 1934 Act registration filing of 9/28/09 required by Section 12). In order that the following is a little clearer I should explain that a Form 13G is basically a short form for a Form 13D:
Rule 13d-1 -- Filing of Schedules 13D-G
Any person who, after acquiring directly or indirectly the beneficial ownership of any equity security of a class which is specified in paragraph (i) of this section, is directly or indirectly the beneficial owner of more than five percent of the class shall, within 10 days after the acquisition, file with the Commission, a statement containing the information required by Schedule 13D.
paragraph(i): " For the purpose of this regulation, the term "equity security" means any equity security of a class which is registered pursuant to section 12 of that Act......"
So, according to the above, the Form 13G filings made late last year appear to have been made for reasons other than that they were required.
AI
