PowerLinx Inc (PWNX)

[Francois+Goelo]

Shorty, I'll help you see your Error....

and will try not to be too Boring or Pompous...

"Insiders must make an initial statement of holdings via the SEC's Form 3 within 10 days after gaining their insider status.

According to the Securities Exchange Act of 1934, an insider is defined as an officer or director of a public company, or an individual or entity owning 10% or more of any class of a company's shares.

Once pegged as an "insider", the SEC becomes very interested in how the person may be benefiting from the unfair advantage they presumable have when trading their own companies' shares. The concept of "disclosure" mandated in the 1934 Act was put into practice by Section 16(a) of the Act, which requires insiders to report their stock holdings and trading activity on Forms 3, 4, and 5."

http://www.insidertrader.com/faq/form4.asp