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Online Resources Corp. Message Board

  • boratnumber1 boratnumber1 Oct 30, 2007 3:32 PM Flag

    Open Letter to Shareholders

    I just saw that the CEO of ORCC posted an open letter to shareholders on their website advertising that he is going to buy 10,000 shares of company stock. Aside from the strangeness that this Management team continues to exhibit, I have to laugh at this gesture.

    This same CEO has sold millions of dollars of stock at substantially higher prices to these same shareholders. Now he is going to take $80,000 of the millions that he received by selling the stock and repurchase stock. $80,000??? Are you kidding me.

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    • The CEO,Matthew Lawlor has not sold any stock of ORCC in over a year.His last reported sale\buy was a purchase of 5000 shares of ORCC on 11/2/2006 @ 9.91.See link below.

      http://www.secform4.com/insider-trading/888953.htm

      News of his intended purchase of up to 10,000 shares at yesterday's closing price is nothing but positive.It may not amount to a multi-million dollar transaction but It shows he is ready to put his money where his mouth is and other executives should emulate his example.

 

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