Mexus Gold US (MXSG)

[1manband]

Again, wrong. The CEO is breaking the law with his Section 16 insider trading reporting obligations.

If he is using a 10(b)5-1 trading program, he must report each trade within 5 DAYS. Period.

And it is not open to interpretation.

If you don't believe me, try some of the most experienced securities law firms in the US.

https://www.andrewskurth.com/insights-RevisedForm4andtheTwoDayFilingDeadline.html

"The release does not provide the expected reporting relief for a single market order that is executed over a number of days. As a result, these transactions must be reported separately as they are executed, without the benefit of any extension of the filing deadline."

Clear enough?

How about another?

http://gibsondunn.com/fstore/documents/pubs/section_16_reporting_changes.pdf

"The SEC has provided a limited extension of time for Form 4 reporting for "discretionary transactions" (described above), and for transactions pursuant to Rule 10b5-1(c) trading plans, provided in both cases that the insider does not select the date the transaction is to occur. Under the limited extension, the two business day deadline is counted from a "deemed" transaction date, which is the earlier of (i) the date the insider receives notice that the transaction was executed, or (ii) the third business day after the date the transaction is executed. Consequently, the latest a Form 4 can be timely filed for these transactions is on the fifth business day after the transaction."

5th business day. PERIOD.

How about one more?

http://www.kslaw.com/imageserver/KSPublic/library/pdf/AmendSect16.pdf

"For these two types of transactions, the date on which the reporting person receives notice of the transaction is deemed to be the trade date, provided that the notification is given not later than the third business day following the trade date. The Form 4 is due within two business days after this deemed “execution date.” Thus, with these two types of transactions the latest possible due date for the Form 4 is five business days from the actual trade date."

What the CEO is doing is illegal. And it is not open to interpretation.