From Wolvsahmmy on Reddit
This company is getting sold before the end of the year...in fact, I'm calling my shot. I think this sells between September 8th and September 12th with my most likely date as the 12th. Why? I'll get to that after I explain these "insider sells" that I'm blown away that no one understands what is going on with - it's super simple and obvious.
Insider gets 2.5 million shares - at 53 cents per share that is $1,325,000. The CAPITAL GAINS on that would be...$265,000 that Doug has to pay right now. So he sold 500,000 shares at 53 cents which is...watch this...$265,000. Guys - come ON! It's 2nd grade math. Freaking out about "an insider sale" when you can clearly see that he is paying off the taxes on the gain is just wild.
Now, here's why I think this company gets sold on September 12th. Everyone at ELTP has worked so hard to get here. All the growth, all the records being smashed...it's time for a pay day. Who is the last person to get their piece of the pie? Kirko Kirkov who has millions of shares that are going to vest on September 7th. That's a Sunday. So Monday, he will file a form showing he is selling shares as well and it will also note his exercised and vested shares. His sell will be for the tax bill. Now that everyone has their shares on the books - they will then announce the sale of the company so that those executives all get their payout for their shares. It will be between the 8th and the 12th - my call is most likely the 12th so that they have 3 days for any additional disclosures they need to tie things up before the announcement on Friday the 12th.
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