Summary of insider and large ownership, as reported on the recent 10k-A:
My purpose is to understand the insider situation better. Please correct anything that looks wrong.
1. Ownership by MPBioMedicals LLC of 4.7m shares - first reported in 2015, 2.48m by John Moroney of Landmark Pegasus - obtained in 2018. In addition approx 2.4m shares were owned by D Chaim via his Ravach fund, prior to 2020. Since these were pre-Covid they weren't purchased as a response to the Covid opportunity.
2. 528k shares for a private placement via his Ravach fund on 2/20 by Chairman D Chaim at .07, reported on form 4 on March 3. This may or may not have been in response to known opportunities from Covid since it wasn't until March 20 that ABMC referenced a testing opportunity. No way to know for certain.
3. Stuart Sternberg purchased 2.4m shares on Feb 19, 2020 at a price of .07, and first reported on June 24. This also may or may not have been in response to known opportunities from Covid.
Since the 10k lists these shares, they SHOULD HAVE still been owned as of July 24. The 10k says that for Stuart Sternberg it is reporting based on the June 24 16G (error - prob meant 13G) filing. IF ABMC is relying solely on external reporting of SC 13Gs, it is possible that Mr. Sternberg already sold his shares on the runup and hasn't reported it yet, since his purchase wasn't reported until over 4 months later. Let's hope not. Hopefully ABMC has done proper Due Diligence and is reflecting actual ownership as of July 24.
4. Ownership by CEO M Waterhouse is in the form of 1.25m stock options, which appear to have only been recently awarded. Another 250k in stock options was awarded to 3 directors.
The awarding of 1.25m stock options may be a subsequent event required on the 3/31 10q. If so, might that be a reason for the delay with the filing, since they possibly only recently were awarded?
The language appears to give the CEO and directors the ability to exercise their options at any time prior to Sep 22. There is no indication that the options have been exercised or sold to date, and such sales must be reported within 2 days on Form 4. Two posters indicated they couldn't be sold for 60 days, but didn't provide a link. I posted a link indicating options could be sold immediately, but that may not be applicable to insiders.
Thoughts?
My philosophy is to just be honest and balanced, and let the market decide if it agrees or not.
