I think that's just insider trading laws, which I agree with. But NILE didn't have insider information. They weren't insiders at the time they were trading or the last sale on record.
The rule was implemented to prevent insiders, who have greater access to material company information, from taking advantage of information for the purpose of making short-term profits.
Regardless, there is a 6 month window there, so NILE could wait 6 months regardless. Which pushes them up to Christmas season, and perfect time to "pump". I still don't see anything illegal here. And who knows what conversations happened this weekend when Ault was in Florida talking to them according to hsi podcast.
Maybe he'll put one or two people on the board. My gut is he leaves them completely alone. He likes the mgmt. team as he stated ont he record. And they all probably will benefit. And he would have the power to overrule any decisions like a capital raise unless it's way up there at $40 per share of course. :) I think it's good for all parties. MICS mgmt may have mixed feelings about it all. Bottom line, everybody can make money here. Except for shorts. Who need to just assume the position as I see it. And rightly so!
The CC and 10K should offer lots of clarity and should be very interesting. Our boring company is now exciting!
Now, that beign said, Ault MIGHT have vilated a security law by revealign inside information when he said he bought a company with $52 million in sales. That would come AFTER he took majority control and would have every legal right to know that figure to my understanding if he wasn't just "speculating" when he said that. If we see on our 10K exactly $52 millionin sales for the year, that would be interesting. I don't think he legally was able to say that since that would be inside information at that point to my understanding, but no biggie to me. Slip of the tongue perhaps. But I'm not a securities lawyer and maybe just a slap on wrist at worse case for him I would think. Again, all speculation on my part.
