Replies to post #65161 on The Golden Lounge

[bobkubecka]

Posted by: SSP
In reply to: None
Date: 6/21/2005 11:54:00 PM
Post # of 65140

***** GVRP plan simplified, 11 shares total, insider with 1 share sold 138,000 shares at say 4 bucks average, so about half a million dollars worth. Company is going to give him 3 million shares, to cover the short position, then reverse split the stock 1 - 3 million, taking the shareholder back to 1 share, they pocket the money. The other 10 shares are replaced by class B shares so are immune to actions.