Cause and effects. If this then that.
1m+ shares sold before lunch.
10:02 95,000 shares sold
10:17 300,000 shares sold
10:23 123,000 shares sold
Many more 20,000 to 50,000 share trades made around that time too.
Whatsup I disagree that the S8 you ref is driving todays activity. The 10q show stock options issued to management have been mostly or all underwater at recent prices. Registering shares for options plan is not the same as executives exercising options. Executives are so hard up for money despite their bloated $200,000 salareis that theyre selling 10,000 shares every week to get an extra $1200 per week. Not a snowballs chance in hell theyre selling and using that money to exercise options to get more shares at current share price. Why sell shares at 12 cents to exercise options with a strike price of $.13 cents?
KMP46 I dont think insiders other than execs dumb enough to sell in such large quantities less than 72 hours after an earnings call that highlighted the company reached the op cf positive milestone. Non-insider employees might be more plausible as they wouldnt have S4 reporting requirements and this close to the 10q and earnings call means smallest risk of insider trading issues. Also any security and guarding employees may be trying to sell what they can before the sale of their division to a private entity is consummated. Id lean towards security and guarding. Software employees would risk management ire by selling. Security and guarding employees wouldnt care as theyve got new bosses anyways.
Everyone forgets that the 10qs spell out whats mostly going on. Half a million in convertible notes were converted thru Q1 and Q2. Thats in dollars. If they converted at 30% discount to stock price of 12 cents they convert at 8.5 cents. $500,000/.085 = is nearly 6 million shares at 8.5 cents each. Good news is if they were responsible for dropping share price in May from 34 cents down to 9 cents they might be almost out.
Good thing is that its temporary no matter what. Market will absorb shares and we can hopefully get back up to 30 cent range.
