Replies to post #16032 on SunWorks Inc (SUNWQ)

[Value_Fry22]

"cashing out" and selling to cover the costs of converting all of his notes into shares are two very different things. I think that is all that chiink was getting at.

[buckylaw06]

Yes, it's a valid concern. However, the topic has been discussed on this board ad nauseum. So when people keep bringing it up it just starts to get annoying. When you bring it up as your first post, people just assume you are here to bash the stock.
So, welcome to the board. Now, spend lots of time going back and reading through it. There's a wealth of info here. Check out the stickys at the top if you haven't already.
Fyi, if you pay for a subscription, you can search the board, rather than reading post by post. You can also view 10 posts at a time.

[Intotheblack]

It's not a bad thing, you even said this youself, look at the evidence... the math supports the theory that he needed to pay taxes... how is paying taxes a bad thing? The man was liable for a huge tax bill, and had to cash some out to pay for it.. plain and simple.

Nobody is mad at you for asking, but people get irritated once it's explained and you keep saying things like this, "I see that it seems ok for the reasons for selling, but it's still not a good thing that he is cashing it out."

Your statement is contradictory to itself. You say "it seems ok", but end with , "still not a good thing"... ?

***
As per previous post by:jj3223 Post :15931

He received 26,250,000 shares converted at $.02 which equals to be $525,000 in capital. Given the federal and state taxes in California, I will just give a very conservative 40% tax rate which would mean he would be paying $210,000 in taxes on the initial conversion of the shares.

Source:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=105296632

[Captmoon]

Actually, Abe and JN are like you and I. It's their stock, there $$, they have bills too, probably much greater than mine. Good for them to make money, and us too. Historically, all inside selling has been done just prior to a healthy run up. Probably to dispell any notion they compromised their inside knowledge... I see it as an impending good sign. Gl everyone.