Meanwhile...(for those of you who know this stuff, chill out... I am posting it for the benefit of the uninitiated and indolent)
I like Slingshots...
You pull down on the band and stretch it out,
then let it go,
and watch the projectile fly high into the sky...
kind of like this stock...
the news was the loading of the sling...
then, "the immutable laws of business", as Mr. Jensen called them,
began to pull...
Stretching the band....
(From the
Aug 10, 2009 FORM 45-102F1Notice of Intention to Distribute Securities under Section 2.8 of
MI 45-102 Resale of Securities)
7. Will you sell the securities privately or on an exchange or market? If on an exchange
or market, provide the name. The common shares will be transferred in several
transactions, some of which will be private and some of which will take place on the
TSX Venture Exchange. Please see footnote.
6. Number and class of securities you propose to sell: up to 5,400,000 common shares.
Please see footnote
SC Stormont Holdings Inc. (“Stormont”) intends to reduce its overall holding in
PharmaGap common shares (TSX-V:GAP.V) from 25,745,493, (approximately 30%), to
approximately 20,388,012 , being approximately 23.7% of the outstanding shares. The
reduction will be through sales in the market over time as market conditions permit.(From Canadian Insider)
| Aug 19/09 | Aug 14/09 | Bryden, Roderick M. | Control or Direction | Common Shares on loan | 97 - Other | 575,000 | |
| Aug 19/09 | Aug 14/09 | Bryden, Roderick M. | Control or Direction | Common Shares | 97 - Other | -575,000 | |
| Aug 19/09 | Aug 14/09 | Bryden, Roderick M. | Control or Direction | Common Shares | 10 - Disposition in the public market | -500,000 | $0.357 |
| Aug 19/09 | Aug 14/09 | Bryden, Roderick M. | Control or Direction | Common Shares | 10 - Disposition in the public market | -500,000 | $0.351 |
| Aug 12/09 | Aug 10/09 | Bryden, Roderick M. | Control or Direction | Common Shares | 10 - Disposition in the public market | -500,000 | $0.330 |
| Aug 12/09 | Aug 07/09 | Bryden, Roderick M. | Control or Direction | Common Shares | 10 - Disposition in the public market | -496,500 | $0.340 |
| Aug 12/09 | Aug 04/09 | Bryden, Roderick M. | Control or Direction | Common Shares | 10 - Disposition in the public market | -3,500 | $0.350 |
| Aug 10/09 | Aug 07/09 | Bryden, Roderick M. | Control or Direction | Common Shares on loan | 97 - Other | 160,000 | |
| Aug 10/09 | Aug 07/09 | Bryden, Roderick M. | Control or Direction | Common Shares | 97 - Other | -877,000 | |
| Aug 01/09 | Jul 27/09 | Letellier, Robert | Direct Ownership | Common Shares | 10 - Disposition in the public market | -12,500 | $0.310 |
| |
I'd say that Mr. Bryden is nearly done "stretching the band" and will soon let it go...
Any of the PRIVATE deals may still be floating around, taking whatever profit they can...
But they will run out soon enough...
However, if I wanted to shuffle off 5Million shares, I'd use the TSX' ICEBERG order facility
https://www.tmx.com/en/trading/products_services/iceberg_orders.html
And let my shares get moved by the ANONYMOUS market maker
instead of selling them to my buddies in other brokerages (like NBF#80 or Jitney#99)
NOT that he necessarily did that... but they've been pretty active as of late, wouldn't you say?
Sure, perhaps Jitney and NBF have scooped up some of that fancy-dancy HFT software that CIBC used to fill their coffers to overflowing, and are just creating some Day-trade noise in the background...
in the end, I bought a 20% position today (@29.5) and intend to get more over the next few days (finances providing)
The news is GOOD and the stock is UNDER-VALUED...
I'd say get in while you can, consolidate your positions if you're that nervous, and put on your seat-belt...
Buona Fortuna a Tutti !!!!