On one hand, I don't know why I am writing this because I hope that NAVR goes down today, so that I can add to my position.
However, on the other hand, I thought you'd all like to hear info "from the horses mouth". I had a lengthly conversation with Navarre's CFO & Co-Founder, Chuck Cheney, and although he was particularily careful about what he said, he was able to answer my following questions:
Q. I noticed from the insider filings that you and Eric Paulson sold stock recently - why?
A. Eric and I collectively own 3 million shares of NAVR, plus options, and since 1993 we have only sold 20,000 shares.
Q. When will NetRadio CEO be announced?
A. We've short listed the candidates and will announce the CEO before the IPO is announced.
Q. When will IPO be announced?
A. Any time between now and the next 45 days. (My opinion is that it will be much closer to the former than the latter.)
And lastly, I think that we can all look forward to some major strategic alliances to be announced very soon as well! So, my advise is to continue to build your position as have I, because this stock will move on a moments notice.
My revised price target: $25 - $35 between time IPO is announced and actual IPO launch.
Good Lord, they collectively own over three million shares, and a sale of a couple hundred thousand has some sinister implication? They are, after all, men with families. Maybe they just needed some damn cash to pay for Christmas! I don't understand why they would sell now, though, instead of Monday. Maybe I don't understand the tax laws, but couldn't they postpone the capital gains tax on their profits a whole year if they waited and sold Monday instead of yesterday???