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What's happening here?

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douglee   Friday, 04/27/12 12:44:50 PM
Re: None
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What's happening here?

Approx. 2 million shares have traded during March and April.
Approx. 5.1 million shares traded in Feb, March, April and June, 2011.
Approx. 6.2 million shares traded during Feb, April, May, Nov, and Dec. 2010.
Little or nothing traded during the inbetween months.
Most trades are in the 1-5,000 share lots, frequently trading thru out the day.(not your average purchaser)

Sooooo, with a float of just under 19,000,000 shares:
1. is an outsider trying to gain control
2. is the buying coming from existing management
3. or have they already got in excess of 50% of the shares

What's next?
I believe there is a large naked short position in this stock as the shares offered by the MM's indicate they are just trying to prevent a price increase. They are not shares being sold by an existing Long.
A potential buyout offer for the o/s shares may bring an increase to the share price due to the short positions having to be covered. ( I assume they can't avoid that)

I suspose a buyout offer could be made at existing prices if the person offering the buyout already has a position in excess of 50%. Then it wold be a take it or leave it offer as they could just take the company private so no active market would be available for the remaining shares.

Any thoughts anyone?

Doug



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