Replies to post #81204 on 8000 Incorporated (EIGH)

[cor11]

It has been difficult to post even polite rebuttals to certain posts, so I'll use your post to just say that I am much happier being long than short on this stock. Whatever the exact number of NSS, it is crystal clear there are many, many millions. I'm comfortable with the 200 million number. That means those of us long will be very happy when the covering begins, as it legally must. By the way Wicks, thanks for your levelheaded guidance.

[loanranger]

"It is very clear that the company has identified 35 individual beneficial holders as they reported in their Q3 report."
Let's look at 3 of those 35.
On the one hand, the company says:
"As of September 30, 2010, there are no known beneficial owners holding more than 5%, identified individually."
They also say:
"According to the shareholder records as of September 30, 2010, there are three recorded 5% beneficial owners, identified by cleared certificate number (greater than 7.19M shares held)"

The statements cannot BOTH be true.
It appears that the company is mis-identifying brokerage firms as "beneficial owners", when they are actually the firms in which the beneficial owners hold their shares.

To put it simply, 3 brokerages apparently each have customers (presumably many of them) whose accounts in total hold in excess of 5% of the outstanding.

Given the misuse of the beneficial owner terminology, I'm not convinced that one can comfortably conclude that the 32 one percent owners don't hold those shares in the brokerages identified as "beneficial owners" of in excess of 5%.

Just another interpretation......of something that shouldn't require one.

ps. "Charles Schwab, E*Trade, Legent Clearing, National Financial Services LLC, Penson Financial Services Inc, Scottrade Inc."
Is it not reasonable to think that CS, E and Scott would be firms with accounts totaling in excess of 5% of the O/S?