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Cartman 3_16

10/31/18 6:13 PM

#48521 RE: JamesE_ #48520

Also coulda been dilution and/or insider sales. We won’t know the extent of the dilution til we see the 10-K in the spring. That kind of delay, in my estimation, is part of the larger plan.

As for insider sales, we won’t know the extent of that, if any, until they get around to filing Form 4s, which they clearly don’t do according to SEC rules.