What he stated about that in his post, referenced earlier, is this:
Let me first apologize to all longs for getting him involved in OMOG, particularly those of my friends who knew what he had done earlier in the year with another stock, yes HBSL, on a “knee-jerk” reaction. I had been asked by several if I felt he might do the same here. I felt not, they trusted my opinion, I was wrong, they were right. But in all fairness, I must give partial credit to baron for at least giving me a “heads up” on what he was planning, a week ago. Less honorable people may have just dumped clandestinely. Though I suspect that he knew, though I might not be able to prove it right away, that I would know very quickly if he was coming out in size. In fact, he sold his first two million shares last Friday a week ago, and though, I couldn’t raise him on the phone, I did leave a message on his voice male about with my suspicions. He did admit it when we spoke later, then sent me an e-mail, followed by a call that next Saturday morning stating he wanted out and quickly. He told me he already had given instruction to his brokers to start selling in size Monday morning. I was not happy with his decision, particularly since he could not give me any logical reason, (primary reasons he gave was, he was now too overweighed in this stock since it moved up so much, and he had a big tax bill due next April and needed to raise money for it, and concern about the “shorts always win”) but told him I could live with him selling, even in size IF he posted on all chat boards that he had been recommending the stock, that it was his intention to start a rapid liquidation. Yes, I explained to him that if he did NOT make such a post, and blew into the market anyway, that I would do it for him. He thought about it, we spoke several more times before the weekend ended, and came up with a “liquidation plan”, which would allow him to be out of effectively his whole sixty plus million share position over five or six weeks. (BTW, his average cost base was around .008). With that agreed to, he obviously did not make the post.
Now why did I feel it was necessary for him to make such a post if he was going to blow out? IMO, it sure didn’t have anything to do with hurting the long term outlook for the company. The company is not using its stock to raise money so having the price spike was a nuisance, not a blessing. So, since I am in this for the long haul, what bothered me was all the HLSH holders that had come over here after “M” made several posts on the HLSH board, followed by other HLSH’ers including Baron who fueled the flames of my involvement over here which caused the stock to not just break out, but to soar. Now IMO, the stock should be valued in the .03-.04 level based on just existing fundamentals, but was held down due to excessive shorting. But now since the big spike it made so quickly, it was sitting in a tenuous position in the middle of that range. Having so many shares come out so quickly, could end up creating a precipitous drop that would at least temporarily hurt those who jumped in at higher levels.
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