"with no dilution for a year"
*********************************************
I'm not sure where your getting your info. from but the filings from the company and the SEC laws state that these 800 Million new shares are Restricted for 6 months from the Nov. 7 2007 date , which means that if they don't jump through any of the many loop holes in the restricted guidelines and decide to hold them the full 6 months , then you can expect to start seeing them enter the market soon after May 7th 2008
The new 144 law states that reporting companies only have to keep those shares restricted for 6 months .(see below)
From the 8K:
"The holding period for the Debenture issued to the Buyer (and the corresponding Conversion Shares issuable thereunder) in exchange for the Loans will include the holding period for such surrendered Loans from November 7, 2007. The Company acknowledges and understands that the representations and agreements of the Company in this Section 3 is a material inducement to the Buyer's decision to consummate the transaction contemplated herein."
You gotta love that last part of the paragraph , sounds like YA?Cornell is real happy about being able to connect the new loan restrictions back 4 1/2 months.
Revisions to Rules 144 and 145
AGENCY: Securities and Exchange
Commission.
ACTION: Final rule.
SUMMARY: Rule 144 under the Securities
Act of 1933 creates a safe harbor for the
sale of securities under the exemption
set forth in Section 4(1) of the Securities
Act. We are shortening the holding
period requirement under Rule 144 for
‘‘restricted securities’’ of issuers that are
subject to the reporting requirements of
the Securities Exchange Act of 1934 to
six months.
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