Emil and Barbara selling looks bad.
They keep selling and it just grows slightly higher every week. Last Week Barbara, lets be honest it is Emil, sold another 1,390,681 shares for proceeds of approx. $27,773.65. That is $1,872,000 for the year they have sold. If the company is successful you can call that a hedge but to me that is a CEO that is selling shares before a collapse. I hope I am wrong. I still hold a little over 2 million shares. But look at the facts on this. Barbara was gifted a massive number of shares and was buying shares at a very small cost. She obtained 322,590,142 shares at a cost of $507,590. that is an average price of $.001573 per share. I don't know about you guys and gals but a price of one tenth of a cent per share is very low. They have now sold 49.2% of the shares 158,825,835 shares to be exact and have 163,764,307 shares remaining. They sold those shares for $3,125,008. The cost basis on the shares sold at the average price is $249,910, so Emil/Barbara has made a profit on those shares of $2,875,098.
In 2023 they sold 45,933,643 shares for proceeds of $1,872,344 average cost of $.001573 is a cost of $72,276. Emil's profit is $1,800,058 in 2023. Anyone claiming Emil is doing a ton for shareholders is not giving an accurate story. In 2020 though 23 The average profit of shares sold is $845,672 per year. For a company with no revenues and just a patent case that is a hefty amount of profit. Seeing the sales this year skyrocket should concerned investors. CEOs don't normally sell shares through their wife weekly for the entire year. Only a fool would watch this and not wonder why they are selling. They have sold at an average price this year of $.041. Is this selling to maintain a lifestyle or a CEO that is milking the company? The part that makes me mad is they continue to sell and it is never enough. The last 144 indicated they would sell over 15M shares over the next 3 months. The 144 was filed on 9/7 and from 9/8 to today Emil/Barbara has sold 6,817,647 shares. So that indicates they intend to sell another 8,232,942 shares. That number will mean Emil has sold 167M shares or 51.8% of the shares available and Barbara will hold 155M shares.
I hope the trial date hits the docket soon. I was told several times by Rich the trial date has been set for early to mid Feb. I believe it was Feb 14th but I am not sure. Until it hits the court docket they will not release the date. My hope is that the trial date is set at Feb 14th and as we get closer the share price begins to rise again. I will sell as the share price rises. But if it isn't set soon I will begin to think the Feb date may not be real. Is VPLM delaying this so Emil can continue to sell shares?
Another question. Dennis Chang and Mr. Williams both filed a new 144 this week. Chang's latest sale indicated he owned only 357,000 shares that would be sold. The form 4 is supposed to indicate the total shares owned after the sale. But a new 144 was filed indicating he would sell another 857,312 shares out of options provided in 2021. I assume those options vest now but I don't know for sure. But he is selling more shares. Same for Mr. Williams. He is going to sell another 2.5 million shares. Selling by all these people does not instill confidence in a positive result from the trial or negotiations.
Emil needs to explain why he and Barbara are selling these shares, but he will not. They sold for 3 years without filing. I am betting the only reason we are seeing these filings now is that Emil found out selling without filing would make it easy to sue him and hopefully put him in jail if the case closed with nothing to investors. I was told Emil had an offer to buy his shares at one point and he said no. I have no details on on that deal but those saying he did it for investors are crazy. Maybe this selling is not a problem but it looks very fishy.
Emil was questioned recently and doesn't like being questioned about their selling.
