It would appear that PHARMSTANDARD converts their shares @ $0.08, so anything they sell @ 0.16 a share is 100% profit. Insider Relation Last Date ? Transaction Type OwnerType Shares Traded Last Price Shares Held PHARMSTANDARD INTERNATIONAL S.A. Beneficial Owner (10%) 10/31/2017 Disposition (Non Open Market) indirect 99,495 0.0080 13,142,784 ABBEY JEFFREY D Officer 08/30/2017 Acquisition (Non Open Market) direct 622,685 0.0000 749,735 NICOLETTE CHARLES A. Officer 08/30/2017 Acquisition (Non Open Market) direct 499,445 0.0000 592,241 KATZ RICHARD D Officer 08/30/2017 Acquisition (Non Open Market) direct 395,664 0.0000 399,622 HARRELSON LORI R. Officer 08/30/2017 Acquisition (Non Open Market) direct 320,683 0.0000 354,382 HARRELSON LORI R. Officer 01/20/2017 Acquisition (Non Open Market) direct 3,694 0.0000 33,699 NICOLETTE CHARLES A. Officer 01/19/2017 Acquisition (Non Open Market) direct 16,753 0.0000 92,796 ABBEY JEFFREY D Officer 01/19/2017 Acquisition (Non Open Market) direct 17,430 0.0000 127,050 ALLEN LEE F MD PHD Officer 01/19/2017 Acquisition (Non Open Market) direct 7,378 0.0000 7,378 KATZ RICHARD D Officer 01/19/2017 Acquisition (Non Open Market) direct 3,958 0.0000 3,958 WINTERBOTTOM JOAN Officer 01/19/2017 Acquisition (Non Open Market) direct 4,464 0.0000 47,248 BIRNER HUBERT Director 12/31/2016 Acquisition (Non Open Market) direct 3,571 0.0000 12,680 MTIBELISHVILY IRACKLY Director 12/31/2016 Acquisition (Non Open Market) direct 395 0.0000 14,895 KROL IGOR Director 12/31/2016 Acquisition (Non Open Market) direct 1,785 0.0000 3,874 SNYDERMAN RALPH Director 12/31/2016 Acquisition (Non Open Market) direct 573 0.0000 573 http://www.nasdaq.com/symbol/args/insider-trades