Logiq Inc (LGIQ)

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We have never seen such a statement by a CEO and today WEYL revenues have doubled and the stock price is half his purchase price.

NEW YORK, Nov. 19, 2019 (GLOBE NEWSWIRE) -- Weyland Tech, Inc. (OTCQX: WEYL), a leading global provider of m-Commerce and fintech business enablement solutions with its Platform-as-a-Service (PaaS), reported that its president and CEO, Brent Suen, purchased 900,000 shares of Weyland common stock from a private investor at an average price of $0.35 per share. The transaction was reported to the U.S. Securities and Exchange Commission (SEC) on Form 4 earlier today.
“We recently reported 26% sequential topline growth for the third quarter of 2019, reaching a record $9.0 million, and we turned adjusted EBITDA positive,” commented Suen. “On a trailing 12-month basis, we’re at $32 million in revenue. Compared to our peers, the market valuation for a company like ours with a 100% subscription-based recurring revenue stream and growing at this rate should garner a several times multiple in its price-to-revenue ratio, rather than merely a fraction as it does today.”
Publicly-traded SaaS/PaaS companies typically trade on average at around 10x revenue according to Crunchbase, with other microcap comparables trading around 4x revenue on average. Companies with cloud-based software or software-driven platform-as-a-service models attract higher multiples due to ‘stickier,’ higher-margin customer engagements that provide greater transparency into revenue and profitability.
“We are encouraged by the increasing number of small-and-medium sized businesses coming onto our CreateApp platform, as well as existing customers’ rapid adoption of new features and modules,” continued Suen. “Given all of these factors, I believe the market price of our stock does not reflect our financial performance, the quality of our revenue, and the strong prospects for our growth to accelerate over the coming quarters. As a result, I have continued to invest personally in WEYL.”
In October, Suen purchased from the open market 99,000 shares of the company common stock, which was also reported on Form 4. Suen now holds 2,832,000 shares of Weyland stock. Pursuant to Weyland Tech’s insider trading rules, company insiders who purchase the company’s common stock from any source are required to hold it for a minimum of two years.
The company is preparing for an uplist to the Nasdaq Stock Market, where it expects to attract the attention of a broader base of investors, particularly institutional and family offices.
“These stock purchases demonstrate my confidence in our future and the growing market opportunities ahead of us,” added Suen, “and not only for Weyland’s CreateApp, but also for our subsidiary, AtozPay, its new venture with AtozGo and marketing partnership with Grab.”

https://www.globenewswire.com/news-release/2019/11/19/1949442/0/en/Weyland-Tech-President-and-CEO-Purchases-900-000-Shares-of-Company-Stock.html

We increased our investment in WEYL significantly after this unprecedented display of confidence and fortitude by the CEO.