Replies to post #77096 on 8000 Incorporated (EIGH)

[Mick Dodge]

Not being a beneficial owner does NOT mean he has 0 shares

[scion]

Rule 13d-3 -- Determination of Beneficial Ownership

a. For the purposes of sections 13(d) and 13(g) of the Act a beneficial owner of a security includes any person who, directly or indirectly, through any contract, arrangement, understanding, relationship, or otherwise has or shares:

1. Voting power which includes the power to vote, or to direct the voting of, such security; and/or,

2. Investment power which includes the power to dispose, or to direct the disposition of, such security.

[...]

http://taft.law.uc.edu/CCL/34ActRls/rule13d-3.html

[gocolts]

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First... I am not on the board or a beneficial owner of EIGH.

Does that mean Jerry Williams (Monk) has sold ALL of his EIGH shares?
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That is what it infers. It means that neither he nor any entity over which he has control owns any at this time.

But I have been telling people all along I thought he had dumped into them. Today, he more or less has confessed that is exactly what he has done.


Beneficial Owner What Does Beneficial Owner Mean?
1. A person who enjoys the benefits of ownership even though title is in another name.

2. Any individual or group of individuals that, either directly or indirectly, has the power to vote or influence the transaction decisions regarding a specific security.

Investopedia explains Beneficial Owner
1. For example, when shares of a mutual fund are held by a custodian bank or when securities are held by a broker in street name, the true owner is the beneficial owner, even though, for safety and convenience, the bank or broker holds title.

2. Beneficial ownership may be shared among a group of individuals. If a beneficial owner controls a position of more than 5% it must file Schedule 13D under Section 12 of the Securities Exchange Act of 1934.


Now does that mean that he doesnt have shares.... Come on you guys are suppose to be pro traders you should know that Monk is going to word his letter in the perfect terms. It is just crazy the twisting that goes on if your going to say something.... atleast be accurate with what you said. per the def he could own 4% of the company stock and he said he doesnt have a vote on the board............................ If you read this def diff than me help me out thx