Cross Border Resources, Inc. (XBOR)

[Ed Ajootian]

boomer, thanks for reminding me, I checked the rule and "affiliates" of an issuer can't sell more than 1% of the total outstanding shares in any 90-day period. I believe an "affiliate" includes any current officer or someone who was an officer within the last 90 days. So that's why Will only blew out 160K shares so far, with the rest probably due to hit the market in September.

It will be interesting to see who they end up bringing on to be the new CEO. Hopefully they don't drag that process on too long. The company is going to have to make some decisions pretty soon regarding how to finance the next round of drilling. They tapped out their bank line in April per the latest 10Q. They can probably get an increase from a borrowing base redetermination but I'm not sure that that would be enough to meet all of their cap ex requirements for the year.