All American Pet Company Inc (AAPT)

[Conrade Lake]

Neither affiliate, Barry or Lisa, has sold shares of their AAPT stock. If they were going to “cash in” they would be restricted in the amount they could sell at any one time as per SEC Rule 144. Such a sale would need to be announced to all and recorded by the SEC.

No announcement, no record, no sale. I suggest that the acquisition of controlling shares speaks to strategic issues that will, I posit be manifested in the near term to the benefit of all shareholders of AAPT. It has been my experience that information, when accurate, can provide reasonable basis for assumptions of potential events.

Safe Harbor Conditions for Rule 144
Share Amount to be sold: The number of shares that can be sold in any three-month period is limited to the greater of a) 1% of the outstanding shares of the class of securities being sold or b) the average weekly trading volume of the shares during the previous four weeks.
Notice filed with SEC: Affiliates must file a notice with the SEC for any sale that involves more than 5,000 shares or more than $50,000 in aggregate in a three month period. The sale must take place within three months of filing the notice. If the affiliate decides not to sell any securities during that timeframe, the affiliate must file an amended notice.

http://www.williamblair.com/Private-Wealth-Management/Corporate-Executives/~/media/Downloads/Whitepapers/CES-Stock-Restrictions.pdf