Nexien BioPharma Inc (NXEN)

[Renegades17]

Insider shares


We need to distinguish between registered shares and float. Insider shares are typically excluded from the float as they aren't freely tradable except in certain windows after quarters end. Even then, I don't see this management team and the board of directors selling shares anytime soon given the paltry valuation. They're in it for the long haul. So the "effective" float should remain quite low for a long time.

The market needs a substantive update from the company. I was disappointed that they didn't put out a corporate update after the 10-K as there was a lot of interesting information that could have benefited from further explanation. That was a missed opportunity.

My guess is that the company is waiting for the CSE listing to provide a thorough update on its activities and plans for 2019. Hopefully that will boost the stock and get some of the Canadian cannabis funds and ETFs to take positions. That's the strategy I would pursue given my prior corporate finance and investment experience. I'm guessing Alain Bankier is thinking along similar lines given his extensive experience in the public markets.