my inquizitiveness will probably be less enthusiastically received.. but I have been wondering (along with others) just who has been converting the warrants this last 6 months?? to the tune of 22 mil...??
From the Feb '06 PR... http://www.hawkassociates.com/ptscpr...
To facilitate the conversion of the debentures, agreements between the Company and Lincoln and Swartz which prohibit each of Lincoln and Swartz from owning more than 4.99% of the Company's Common Stock will be amended to allow them to own up to 9.99% of the Common Stock. With their holdings exceeding 5% they will need to make appropriate SEC filings upon future dispositions of the Company's stock.
I have never seen an SEC filing for any selling by either S or L.
Does this mean they have never been above 5%?
Does this mean they are distributing their warrants in other ways? What other ways might be available and legal?? I do not know
The last actual numbers I remember seeing re S&L were aprox 50 mil held (down significantly at that time)
I have not seen actual S&L warrant numbers since the 10K I believe.. is the last 22 mil warrants converted theirs? I do not know how many they current possess.
The Company will have the right to redeem up to 20 million warrants owned by Lincoln and Swartz.
I am assuming these 20 mil were redeemed prev to the last '6 months warrants' mentioned in the latest 10Q... or am I wrong.. are these the same warrants.. just redeemed in the last '6 months' mentioned in the 10Q?
How is/are S&L converting warrants with out any SEC paperwork/filings??
S&L's SC-13G increasing ownership to 9.99%
http://www.secinfo.com/d11MXs.vAK5.htm
Thanks to any/all who help me with this
