"IF" the O/S is in the millions??? we really are not sure of anything at this point in time. As for filing to sell, YES it applies to us small fish, unless the CEO likes swimming in a shark tank ( SEC)
If the O/S is 41mil then a lot of people here will own 5% or better. What will happen if they don't file notice? Or does that not apply to us small fish?
The figure is 10%. ANYONE owning 10% or more of a public company must file a SEC form stating how many shares they own. When and how they got them.
Then when they sell they must file a form saying that they sold.
That is why when you read a filing that has debentures in it. The debenture holders contact always states that they will only have 9.99% of the OS at any time. Other wise they would have to file on their sells.
There are many people here who are braking SEC securities laws by not doing so. If the O/S is 47m.
Then ANYONE owning more than 4.7 million must file with the SEC.
I wait for everyone's filing that has posted their size over 4.7m..
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