You say you want no spin yet....saying 339K is roughly 500K shares... is as much spin as if someone were to say it's roughly 178K shares.
so to take out the spin altogether...
there were:
Aug 3-7
214K publicly disposed
125K privately disposed
339K shares disposed total
Now here is my "spin"
consider that of the shares disposed...over 1/3 of them went to someone she had privately agreed to a sale with...usually this happens when shifting shares to family, friends, business partners...and almost always done so that the shares are guaranteed to land in the buyers hands as opposed to an open market sell which could get snapped up by anyone.
if you wanted to dump shares would you dump them on the open market or would you dump them on someone you know and charge them 22,500 for the privelege of taking your recyclables.
furthermore...here is the pattern
Aug 3-7(5 days)
214K publicly disposed
125K privately disposed
339K shares disposed total ~.18/share ~ $61,020
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June 6 - Aug 2 ~ 2 months 0 shares disposed
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May 29 - June 6 (9days)
200K publicly disposed
200K shares disposed total ~.25/share ~ $50,000
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Feb 24 - May 28 ~ 3 months 0 shares disposed
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Feb 21 - Feb 23(3 days)
300K publicly disposed
300K shares disposed total ~.75/share ~ $225,000
714K publicly disposed
125K privately disposed
839K shares disposed total ~ $336,020
So for three days in Feb...Lori thought time to get off the sinking ship...then a three month change of heart... ship isn't sinking despite the SP reduced by 2/3....then for nine days...time to get off sinking ship again...then for 2 months oh wait we're fine no problem....then for five days ok now im gonna get my $61,020 out of this dud, stick some sucker I know with $22,500 worth and get the hell outta here...really?
If you were the CEO of SLI and lost faith in the company...is this how you would react? Wouldn't you have sold far more shares? would you have sold some during the three month decline between .75 and .25? would you still hold many millions of shares at the current price of .18?
I'm not saying SLI has found gold or found dust...what I am saying is...if this is the "bad sign" and a CEO abandoning a sinking ship...it is quite possibly the single most botched attempt at abandoning ship since Leo DiCap in Titanic.
never would the Bull Durham quote "you couldn't hit water if you fell out of a f***ing boat." be more appropriate.
S.
