If the 44 million shares that SB sold only covers $100K of his loan wouldn't he be required to also disclose how many shares he sold for the $340K? Or would he do that later with an Annual Statement?
Quote:CEO Steve Berman has been bridge financing the Company via personal loans with 5% interest rate. Over the previous 2 quarters, he's loaned a total of $456,473. He took some compensation in the form of stock during that time, and sold some shares to make up part of what he loaned, with estimated proceeds in the ballpark of $340K. So, over $100K came out of his pocket, maybe as much as $125K. It MAY be that the recent 144 filing for selling 44M shares is to cover that difference.
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