DM,
While we can easily pull up the trades from that period and make a reasonable estimate of the number of shares sold, we cannot directly attribute any sales to any one entity.
I use the term entity because if we can believe Kbob (I see no reason not to), TG has been converting and privately placing his preferred to raise cash and avoid filing 144's. The entity(ies) he has done this with are then either holding or selling their shares. Amazingly much of what bob revealed fits with what Gary and I suspect has been happening all along.
Come with me while I tell you a tale...
In June of 2000, a CEO was in need of cash for his business. He was taking heat from shareholders due to all of the 144's he was filing. After all he had the filings on automatic, he was selling all the time. So he contacted some friends in the business of selling stock and presented a plan. I'll sell you stock at .06 it currently trades at more than that and you can selling it to your customers at the going rate. This(these) Financial Advisor(s) Jumped at the chance. The CEO had a requirement or two though, they had to take 15 million shares or so. And they weren't supposed to just dump the stock, "put in the hands of those who can hold it", he said. Alas the first that he trusted immediately began to sell shares short knowing they could cover all the way down to six cents. The CEO was angry, promises had been broken...they are ruining my company! He tried to reneg on the deal but they had him in a fix, eventually a deal was struck but the damage had been done.
With no choice but to continue he sought other more reputable FA(s) and changed his sales pitch to make them want to hold on. "There are big players waiting to jump in", he said. that should make them hold the stock. Alas, some did but some did not. They sold as quickly as possible to garner their profit, for they don't make money by sitting on inventory. Still needing cash and not wanting to sell openly, the intrepid CEO devised still another means of placing stock, Knowing that the shareholders worring abont convertible debentures, he could not go that route. But he had an Idea! The preferred shares can work like the CD's and he can use those to raise cash...so he did. Alas and Alack, all his efforts seem for naught, he is still strapped for cash...sales are insignificant...and production is currently halted. What ever shall he do now?
The above is pure fiction. Any resemblance to actual events is purely coincidental. No individual or company should be inferred by it's inclusion here.
David Weed
aka the Bird of Prey
www.warp-drive.com
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