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stayfocused

11/17/07 10:17 AM

#38082 RE: adamp #38081

I agree that it is a new issue, there is no mention of form 4 which is used by 'insiders' to dispose of stock. (see below for form 4 details).

The Form 4: Insiders Buying and Selling
Of these three Forms, Form 4s are generally considered THE most important source of useful insider information. While Forms 3 and 5 record a snapshot of an insider's holdings of their company's shares, the Form 4 tells investors how insiders came to hold the positions. It is the dynamic piece of insider data that gives the best window into the feelings insiders have about the prospects of their firms' shares.

The basic statement of holdings illuminated in Forms 3 and 5 seem mundane in comparison to the information accessible on a Form 4. So much so that Forms 3 and 5 can generally be passed over in favor of spending whatever time and resources you have on prospecting through the more useful Form 4 data.

A Form 4 lists the name of the insider, their relationship to the company, how many shares were traded, and at what price. It also gives the dates of an insider's trades, total holdings of the insider after the transactions, and if the trades were open market, related to the exercise of stock options, or some other special reason. Besides being quite detailed, a Form 4 is also timely--especially after the filing deadline was shortened to just two business days by the Sarbanes-Oxley Act in July 2002. With the deadline for filing being the second day following a transaction.

I'm trying to dig deeper to get the number of shares in the offering.
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foremostny

11/17/07 10:56 PM

#38106 RE: adamp #38081

i think they said in the conference call that:
1) des is divvying up his shares beteen himself and the brolas.
2) there are 200M shares not owned by des, brolas, or the float that are reserved for "private equity"
3) there is no intention to dilute as this will be negative to shareholder value

in my honest opinion, if it is in fact regarding share distribution, it probably is a transfer of shares from des to the brolas