Replies to post #17617 on Locan, Inc. (fka LOCN)

[nodummy]

The CEO is listed as owning 0 shares because he has never owned any shares.

According to the filings the CEO, Robert Long, only devotes around 40 hours per month working at the CEO. That's less than 10 hours per week.

He is not compensated with shares (at least he never has been so far).

Here is a copy of that as well as a copy of the beneficial owners list from the 10K for the period ending March 31, 2011:

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=8006679






If you go back and look at previous filings they also show no share ownership by Robert Long ever at any time:

10K for period ending March 31, 2010:

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7521186

10K for period ending March 31, 2009:

http://www.otcmarkets.com/edgar/GetFilingHtml?FilingID=7521177

I think technically Robert Long should have done a Form 3 filing right away after he was assigned the position as the president/director. Not sure why none was ever filed.


This poster said pretty much the same stuff about the Form 5 filing not being an indication of a possible R/M:

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=65384987

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=65385397



If you are waiting for a Form 4 filing showing the exchange of shares that might indicate a R/M being in progress you would have to look for a Form 4 filing done by Professional Traders Fund, LLC, the beneficial owner of 62.38% of the outstanding shares, selling their shares to somebody else.

Professional Traders Fund, LLC is a business entity managed by Marc Swickle and Howard Berger.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=58608467

Professional Traders Fund, LLC obtained those shares in March of 2008, when 133,041,120 common shares were issued to the shareholders of the former parent company of the shell, Roadhouse, Inc. as part of a "reorganization plan".