On your (Small's) comment that the selling is coming from the (Simon) Syrbnik estate:
It appears you are mistaken on that point. First, his estate qualifies as an "insider" since it holds more than 33% of the issued and outstanding shares. SEC regs require all insiders (officers, directors and anyone holding 5% or more, by my best recollection) to make a filing with the SEC within a certain number of days of purchasing or selling shares. Second, the executor of his estate is none other than our Chairman of the Board, Joshua Markowitz. (Simon and Joshua were brothers-in-law. When Simon died, his wife, Joshua's sister, inherited all or the vast majority of Simon's shares. When she died a few months later, Joshua was appointed executor of her will, under which Joshua and member(s) of his family inherit all/most of the proceeds.)
Since there have been (as far as I can see -- someone double-check) no SEC sale-related filings by either the Syrbnik estate or by Joshua as executor, you have to assume that none of the selling involves shares that Simon purchased.
But bear this in mind: Joshua Markowitz now in large part controls this company, because Simon's estate owns 33% of the company and Joshua controls the estate. Corporate governance dynamics get funky, but when you own 33% you can usually place a majority of board members who support you on the board. Which means he can throw some of the board and/or some or all of the management out if he chooses to. Or keep everyone intact. The point is, he's nearly absolute kingmaker here. Simon was before him. But Simon, a brilliant businessman in his prime, no long possessed the will or energy to act in his final years. Decades younger than Simon, Joshua remains at the height of his powers and is a savvy attorney. One can only assume that he will do what is best for the shareholders because of his family's collective ownership interest in 33% of Vaso -- i.e. because his wife and son stand to inherit the shares owned by Simon's widow that she inherited from him, as I recall.
Then there is question of his brother Louis's estate and its ownership of 27% of the outstanding according to the latest proxy statement. If Simon and Louis's estates worked together, no question they could do anything they want to the company. But it's not clear how much the executors of each are or are not in agreement on how to run Vaso.
The question then remains: Who is the source of the selling? Apparently not the estate of either Simon or his brother Louis. The larger point in my opinion, however, is that there is now someone at the helm whose interests perfectly align with ours as common shareholders and who possesses the capacity to act to further them, where Simon did not.
eecpfan
eecpfan
