An excellent post below from jrf30 and accurate al
Post# of 7802
Posted On: 04/07/2015 11:09:43 AM
An excellent post below from jrf30 and accurate although I wouldn't call the Kennedy family "rich". I think they just understand the upside of the situation and know Kyle will keep at it as long as is needed. I appreciate their continued investments over the years. They invested at times when there was not a lot of support from outside investors and things really didn't look all that promising. In other words, when the risk was highest. They should make it all back and "then some" this summer. Or maybe sooner. Let's get to diving!
Quote:
Yes the company is selling shares to fund the diving. No, that is not the selling you see. the shares they sell are sold privately, with restrictions. those restrictions need to be lifted before the shares can be sold. The lifting of those restrictions is something the TA must approve, and that changes the float when it happens 9But not the OS. that changes when they are sold) SO the selling you see if not the company. Reg D allows them to only sell non registered exempt shares that have a legend.
However, once a person who owns those shares has held them for six months or more, THEY can sell them IF they register them or claim the 144 exemption through the TA.
Never the company selling shares. Not on the open market.
FYI.
Part 2 - Yes the company at times also sells convertible notes. Most have not been converted, or they would show up (As the one that was posted showed that it did) SOme may be converted in the future, but have not been yet. Numerous have matured and not been paid, and have not been converted and are sitting waiting for something great to be found. WHy? they are relatives of the CEO. that too was on the 10K. If Kyle has a rich famiy that can help support the company, amen to that. LET them fund the company, and hold the stock or the notes because of their faith in their brother. That just means we can MAKE it, instead of going belly up. So I'm not concerned over the related people buying the notes or the stocks. It's just stronger hands than if it were in third party hands.
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