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| Nov 23rd 2007, 11:42 Xavier Mohr |
SLR will exploit its own high volume | |
Today, 11:40 SLR SL Reports by Xavier Mohr SLR will exploit its own high volume Hi Everyone, I would just like to announce that the recent high volume in SLR - caused by a variety of things including my resignation - has led to a fairly handsome market maker commission being delivered to my account each day. For transparency purposes I would like to disclose that I will be utilizing these funds to randomly purchase shares at market price before destroying them, further increasing the value of your SLR shares. Lindsay Druart first mentioned this idea here in the CapEx forums, and I felt it was a very good one worth playing copycat on. This will occur regularly and sporadically, aside from the larger buybacks I have outlined in previous announcements. I will not make an announcement each time I do this, but will try to follow up weekly or every other week in letting you know the total amount spent and total number of shares retired. This particular practice... I cannot promise will be continued once I leave.... since technically the market maker commission belongs to the CEO and can be used how he or she wishes. In any event, I am proud that for once shareholders can PROFIT from the drama caused by a company's CEO! Take Care, Xavier Mohr |
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| Nov 24th 2007, 02:31 James619 Bagley |
Re: SLR will exploit its own high volume | |
| Correct me if I'm wrong about this......isn't this action called insider trading? I know if corporations in RL did this, it is. As it was pointed out to me several time before, I'm new to SL and this market, so I'm not sure if the same rules apply. Let's take for example, Strange leaving his position.....not many knew about this when he was selling off his stock, including myself. However, if I did know about it, then I would be guilty of insider trading, knowing that a large quanity of shares was about to be dumped on the market..... Like I said, I'm new.....feel free to correct me if I'm wrong. |
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| Nov 24th 2007, 05:25 Guardian Market |
Re: SLR will exploit its own high volume | |
| I don't think this is insider trading. Insider trading, as I understand it, has more to do with knowing special information before it is released to the general public. Your example of Strange Ranger resigning is a good one of this. What Xavier is doing is taking the market maker commission generated by ALL trading and using it for buybacks. This market maker commission is fairly new (http://www.slcapex.com/home/story/SLCX/1005) and is extra revenue paid to the CEOs listed there from SLCapEx. Xavier is not using any special information not available to the public, but rather is simply announcing his intention to use this new revenue stream for buying back shares. He's even promised to disclose how much he buys on a regular basis. Since you (the common shareholder) know of this plan, it is public information, and not insider information. I'm not a securities expert, but that's how I read this one. |
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| Nov 24th 2007, 12:03 Xavier Mohr |
Re: SLR will exploit its own high volume
Edited by author Nov 24th 2007, 12:04 |
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| It's not insider trading. I'm not acting on any non-public information for a personal gain. In fact, I am getting no personal gain aside from an increase in value for my shares... which I will soon be either retiring or giving to a new CEO, anyway, before I leave the company. I am simply buying the shares and then destroying them. If you look at the reality of it, I am kind-of benefiting every shareholder EXCEPT myself, LOL As for Strange Ranger, it was a weird situation, but not insider trading either. Check out part of a post I made in response to a question by Sando Haller the morning after I posted my resignation: ~ ~ ~ "As you can probably guess, the majority of current trading volume in the company is from what seems to have been him selling off his 400k+ shares this morning in one or more large chunks. I cannot say that I totally agree with the large sale all at once. Truth be known, though, is that I gave him the shares because he 100% deserved the income they apparently brought him. That being said, I *did* tell him that once he left the company those shares were unlocked and his to do with as he pleased... I just should have been more clear on selling them. Another misunderstanding. I should disclose however that this was not a case of insider trading. Strange Ranger did proof and review my announcement before I posted it, but as of the time I went to bed he had not sold a single share. I appreciate the honesty to the other shareholders in waiting for the market to absorb information he already knew in advance before he commenced his own trading." ~ ~ ~ You can see the full thing at: http://www.slcapex.com/forums/topic/SLR/997 Let me know if you have any other questions. Thanks! Xavier |
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| Nov 24th 2007, 16:23 James619 Bagley |
Re: SLR will exploit its own high volume | |
| Thanks. :-) | ||
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