There are the family members of management to take into consideration as well. Based on only the Oct. and Nov. 2007 shares sold by RN at option exercise prices I would assume that family members participate in tax planning with the family member in management and expect the family members have more than just a few percent of shares under their control. Old Joe PS: Then there are some of the very long time Share Holders to consider. I expect these individuals have close connection to someone associated with the company and between them and family of management may have even participated in the last PP in a proportionat manner so as to maintain their respective percentage positions in Noront Resources.