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http://archive.fast-edgar.com//20180129/AU2U222CZ22C92Z2222A...

http://archive.fast-edgar.com//20180129/AU2U222CZ22C92Z2222A...

1-29-18 New Enterprise Associates (from Timonium) purchased 2.724MM Class B shares which have 10X voting rights, and convert 1=1 to Class A shares at any time. APPN and other companies typically do that to place shares in "friendly" hands so they can control the votes.

1-31-18 Novak Biddle VC (from Bethesda) bought 10.248MM Class B shares, including shares that went directly to the owners/founders.

Their play is to short some shares to drive the price lower, and which you can then buy a large amount of shares at that low price. There could be other VCs and private placements of the remaining shares.

60MM authorized shares
11MM Class A
49MM Class B

I received my broker's rate reduction email (from 99% to 85%) on Jan 30 at 8:40AM, yet today the price dropped another $1.20. Until the private placements get completed, there will be DEEP pockets very capable of suppressing the price until they get their deal(s) done. New Enterprise Associates bought 2.724MM x $30 share price = $82MM. And Novak Biddle bought 10.248MM x $30 = $307MM. Both possibly received some discount for their volume purchase, but we are still talking large investments into APPN. This is all ahead of their earnings report on February 22.

Summary: If I weren't already over weighted in shares, I would buy more as I think we're seeing the low soon.
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