Re: PTSC shares traded from Oct 2, 07 thru Dec 31, 07.... Dys..
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Message: Re: PTSC shares traded from Oct 2, 07 thru Dec 31, 07.... Dys..
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Feb 14, 2008 11:52AM
Feb 14, 2008 01:19PM
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Feb 15, 2008 04:56AM
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Feb 15, 2008 05:30AM
Feb 15, 2008 06:40AM
remember the out of the 11.6 million disposed of by Swartz, 5 million were negotiated warrants and will skew your results IMO.
Dys.. Are you refering to those 5M warrants mentioned in the Subsequent Events... ?
From the 10-10-07 Q..
9. Subsequent Events
During the period September 1, 2007 through October 10, 2007, Phoenix Digital entered into license agreements with third parties, pursuant to which it received aggregate proceeds totaling $1,433,000.
On September 4, 2007, we repurchased 2,000,000 warrants for $799,647 pursuant to the terms of our warrant repurchase agreement with Lincoln Ventures, LLC.
On September 4, 2007, we advanced $100,000 to SSDI pursuant to the line of credit agreement. On September 18, 2007, the interest rate on the line of credit decreased to 7.75% in accordance with the change in the prime interest rate.
During the period September 1, 2007 through October 10, 2007, we purchased 737,181 shares of our common stock for treasury at an aggregate cost of $317,128.
On September 13, 2007, a director exercised stock options to purchase 100,000 shares of common stock for proceeds of $10,200.
On September 17, 2007, a warrant holder exercised 3,500,000 warrants on a cashless basis, receiving 2,536,942 shares of our common stock upon exercise.
On September 17, 2007, we granted stock options, from our 2006 Stock Option Plan to our newly-appointed chief financial officer in accordance with his employment contract as follows: 600,000 non-qualified stock options, subject to vesting provisions within the option, and 150,000 non-qualified stock options which fully vest on January 17, 2008.
On October 2, 2007, we repurchased the remaining 3,000,000 warrants for $1,039,398 pursuant to the terms of our warrant repurchase agreement with Lincoln Ventures, LLC.
Those warrants were purchased before/on Oct 2, when my running totals and ~% of Swartz selling would have begun... Swartz had 35.3M sh on Aug 31 07, and X# of warrants.. on Oct 2 when the remaining warrants were purchased by PTSC.. leaving Swartz with only retail shares. IF those retail sh #s remained the same thru Oct 2, as Swartz was in theory concentrating on converting/selling warrants, then the 11.6M sh sold thru 12-31-07 is IMO acurate.
But... Swartz may indeed be trading at a pace more compareable to last Sept/Oct as opposed to last Oct/Nov/Dec.. My attempt at determining (guessing) what Swartz may be currently holding is certainly an indirect science :)
Oct 2 07 - Dec 31 07: 11.6M sh sold by Swartz, in 62 trading days.. 187,100/day. 46 trading days so far in 08.. @187.1k/day Swartz would have sold 8.6M shares thus far in 08.. leaving him with 15.1M shares currently.. My best guestimate is IF Swartz is trading at the same pace as he did in Oct-Dec he now has ~14-15M shares.. but he very well may have curtailed his pace of selling..
jmo.. ikn..
regards Dys
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