Addax Petroleum (fka AXC)

[seek the light]

So we have those with opinions that there will be another round of selling Convertibles by the same management who has about $300,000 of their own money invested most of which was invested during the time frame of Sept 2014 thru Dec.2015. And they were buying more during the time frame of the last three months of 2015 when they HAD TO KNOW there would be some further selling after the Reverse went into effect because there was not room under the 3 billion cap to issue enough shares to accommodate the last $250,000 or so of the convertibles.

My conclusion is that management has not had the best interest of the shareholders as their overriding motivation, but they are not stupid enough to dilute themselves for a significant amount of their own money invested. And with no further purchases since Dec.18,2015 one might think that was the timing factor for some real good news because neither are they stupid enough to violate insider purchase Regs.