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Manti

02/20/08 6:23 PM

#30713 RE: REAZO #30696

REAZO: "Last comment: Remember that we did a survey on JUST THIS BOARD and accounted for well over 100% of OS. That was AFTER only a small covering took us to .90 last year."

If you're talking of the first survey immediately following the spike, it's only logical to say that most of the float was tightly held by this board, creating a shortage of freetrading shares, and thus being one of the major contributing factors to the dramatic price increase.

If you're referring to the second survey conducted a few months later after the sp dropped to the .2 range, and after the persistent occurrence of the late posted trades, your assumption that the board controlled almost all of the OS was later proven incorrect by the disclosure by hemi that the os had increased significantly beyond what it was assumed to be by all here. Some are still saying that all or most of the increase in os is restricted. I can't buy that. My experience with pennies has shown that late posted trades at a discount to the volume weighted average price of the day are always new shares hitting the street. To think that hmgp is different in this regard requires a greater imagination and naivete than I can muster. I just can't believe that billion dollar mm's go to all the trouble of treating hmgp differently than all of the other compnies out there. I'm not saying there aren't any ns shares out there. I am saying that I believe the current sp is a result of dilution combined with company performance not meeting shareholder expectations.