Gulf Resources, Inc

[Rayhuh]

HAP Selling Killed Price - This Proves It

This is a yahoo post from markhamburg, found at:
http://messages.finance.yahoo.com/Stocks_(A_to_Z)/Stocks_G/threadview?m=te&bn=94018&tid=17568&mid=17568&tof=2&frt=1#17568

HAP owned 6,303,000 shares of GFRE at 1/24/11, but by 2/15/11 it only owned 4,917,046. That means that it sold 1,385,954 shares in the three weeks preceding 2/15. That is 22% of their original position! Here is the Form 4 showing how much they owned before and after:

http://www.secform4.com/filings/885462/000148497211000006.htm#F1

It looks like they only sold 652,809 shares, but if you look at footnote 2 it says the form is being amended to reflect missing sales (to the tune of about 733,000 shares if the ending share number shown is correct!).

So it's been five weeks since the filing and volumes have moved from about 200K shares a day in early February to three or even four times that lately. My feeling is that HAP has sold between 60% and 75% of its position by this time. If I am correct, that could leave as few as 2 million shares to go. With volume like today's 1.2 million shares traded it should not take HAP long to be completely out of GFRE.

We may never see such a tremendous buy opportunity on this stock again as we might see over the next couple of days. Good luck to those with any discretionary dollars left. I wish I was one of you.