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Re: bigstocksnbonds post# 22909

Friday, 11/19/2010 9:27:50 PM

Friday, November 19, 2010 9:27:50 PM

Post# of 118202
If Crescent had held their shares this long, this would have given them theoretical ownership of 5.98% (44,444,444 / 743,732,651). Assuming that pink sheet companies still have to follow rules imposed by the SEC, which they do, a Schedule 13d has to be submitted "by anyone who acquires beneficial ownership of 5% or more of any class of publicly-traded securities in a public company." Source: Wikipedia

That doesn't mean that they weren't slowly selling for the past month, but if they were slowly selling, it probably put them over 5% and would have necessitated an SEC filing. The odds suggest they wanted their money. And the odds also suggest they doubled the $220k that was loaned to PCFG when they sold.

Just my opinion, but I think that Crescent saw the opportunity to get their money back and took it in early October.

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