Innovation Pharmaceuticals Inc (IPIX)

[loanranger]

Unless the argument is being made that CTIX insiders are perpetually in possession of material non-public information, in which case they could NEVER buy or sell shares...a situation that is extremely rare (I haven't heard of an example)...there is a way that shares can be bought or sold that can be implemented at a time at which they don't have such information. It can act to provide the confidence that insider buying has been known to provide.

It's called a 10b5-1 Plan and it's named after the insider trading rule. It requires the insider to provide a third party...usually their broker...with instructions to buy (or sell) shares in specific amounts and at specific prices (typically limit prices) at some future time or according to a specific schedule, or based on an algorithm. The plan is set in stone, can be terminated but NOT amended, and must be put in place when the insider is not in possession of material non-public information. The willingness to establish such a plan acts as support for the premise that there was no "MNPI" present when it was made.

https://webcache.googleusercontent.com/search?q=cache:LZTg6RFmtj0J:https://www.davispolk.com/sites/default/files/files/Publication/c0b412f9-d08e-4abf-a327-3f215728160e/Preview/PublicationAttachment/5dbd1bac-15b1-4b37-ae75-4388773478c4/011813_10b5_1.pdf+&cd=1&hl=en&ct=clnk&gl=us