You think that the company is going to get $120MM from a used car dealer? I know you don't, and judging by the SP neither does anyone else. Apparently that includes members of the BOD who, if I read the story correctly, were aligning themselves to unload whatever shares they still have.
There has been quite a bit of press down here lately about the alleged insider trading of PTQ shares by a holding company (registered in Denmark, of all places) controlled, allegedly, by the most recent ex-President. He claimed, cleverly, I suppose, that it is not illegal to trade with privileged information in Panama if you're trading shares registered in Canada. Maybe he's right but the new Panamanian administration does not seem to see things his way and I doubt the Canadians will, either. The entire mess is quite sordid - there's a seemingly crooked brokerage house, a belly-up credit union, a securities commission official who was investigating this whole thing who has disappeared, another who was stabbed in an attack that happened outside the office of the brokerage... According to local reports the insider information was provided by another ex-BOD, Ferrer.
Anyway, what we see on the surface, that the mine's closed, the company's broke and the employees are owed three and a half million dollars, may just be the tip of a very ugly iceberg.
But I support management! My group is still buying shares weekly!*
*I thought I'd do that because we haven't heard it in a while.
AI
