Here is the entire post:
I noticed a difference in this today:
Company Details
Total Shares Out Standing (millions): 605
Market Capitalization ($ millions): $284
Institutional Ownership: 0%
Price (as of 1/12/2005) 0.47
Ownership Analysis # Of Holders Shares
Total Shares Held: 5 95,000
New Positions: 1 85,000
Increased Positions: 1 85,000
Decreased Positions: 3 6,916,774
Holders With Activity: 4 7,001,774
Sold Out Positions: 3 6,916,774
Click on the column header links to resort ascending () or descending ().
Owner Name
Select a name below for more information.Date/Shares Held/Change (Shares)/%Change (Shares)/Value($1K)
FIRST AMERICAN TRUST... 9/30/2004 85,000 85,000 New $40
PARSONS CAPITAL MANA... 9/30/2004 10,000 0 0.00% $5
SAND HILL ADVISORS I... 12/31/2004 0 (25,000) Sold Out $0
PACIFIC ASSETS MGMT... 9/30/2004 0 (3,445,887) Sold Out $0
JMG CAPITAL MGMT ... 9/30/2004 0 (3,445,887) Sold Out $0
The number of shares traded would account for much of the short activity, but it also appears possible that the shares represent convertible debt held by unaffiliated companies that may have been purchased by the company. None of the positions were large enough to require SEC Change of Ownership filings.
The sales raise several questions, including whether the blocks were traded privately to possible buyout or merger-minded investors.
6 comments:
Why is this so dramatic?....we have known about it for months now.
I am not sure how you knew, but I did not. The fact that all the institutions are now out of the stock is indeed dramatic. I'd welcome a post arguing another case.
Joe- The institution of First Atlantic Bank now owns a decent amount of ERHC. :) Not saying that this happened by plan, but who would Offor rather have holding ERHC shares? First Atlantic or four institutions over here?
Joe,this lastest posting by you is very suspect,and the very reason your blog cannot be trusted as a trustworthy news source.
This "Dramtic" new finding, is nothing more than information that has been well known,and repeatly discussed months ago on the RB message board.
It appears you try to manipulate ERHC, according to weather you are on the buying side or selling side of your admitted swing trading of this issue.
That is a more difficult question than it appears to be at first glance. Remember, Offor's rival for refinery maintenance in Nigeria, Fobi Engineering, has its Chairman E.O. Fobi on the First Atlantic Bank board of directors. There's a lot of room for mischief. On the other hand, the "institutions" mentioned here are very small ones, and they might not be above short-selling mischief themselves.
The original poster, lynton64, has recently posted that he found nothing dramatic about his post and was only pointing out that the last institutional holder had sold its 25,000 shares. I reiterate that I found it dramatic because I did not recall seeing it before, and because the data was dated Jan. 12, 2005 and was posted last night.
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