Its a one time deal, not a consistent dividend. Its a distribution. The market isn't going to be tricked into thinking its yearly.
If you idiots would do that, the stock wouldn't continue to tank.
Talk is cheap. Buying costs money.
The 16b3 applies to his stock appreciation rights, not the stock he just bought.
So he has to hold that 6 months.
Had to look up the 16b3. It appears to exempt insiders from the short swing profit rule.
Apparently he could offer & buy the company 3 months from now for $4.50 and not owe short swing profits.
Do we know Miller didn't tender any ?
Id envision some kind of deal where Higgins & Miller buy the rest of us out at a lowball.
BAMM did just that. They ignored a 3rd party offer for higher and took it private at a lower price by simply saying the founding family wasn't selling.
The point is controlling shares are worth more than others.
No class actions with such small companies.
Anyone who calls themselves a "stockexpert" is anything but.
In fact, the guy is a liar and a fraud. And this is a sham company being touted all over yahoo by people dumping the stock which they got for free or in below market private placements.
Ignore me. Buy the stock. Make my day.
Hint, stocks don't go down because everyones buying.
You are being defrauded by those touting the stock.
3rd bankruptcy in 8 years.
But listen to the touts if you want. They are selling into the hype.
Stopped in it my regular account and just got cash but the IRA, I kept reinvesting. Buying in the regular account was a mistake, meant for it to be in the IRA.