Yes, it is very suspicious. But the next step, which I think you are failing to do, is put their actions into context. Did they engage in such activity for their own benefit or for the benefit of the majority of the shareholders?
- If you are of the opinion that ETIM will ultimately fail, then yes, they were duplicitous in their actions.
- If you are in ETIM strictly for a quick flip, then yes, then yes, they were duplicitous in their actions.
- If you are in ETIM because you think or want ETIM to succeed, then ETIM did everything they did to keep from drowning.
Tough times call for tough measures. I kind of like it that ETIM did what they did. The flippers got burned bad and I feel no remorse for them. I'm not saying flipping is bad -- I do it all the time. I just don't like flippers in stocks that I'm long in and I think flippers have hurt the PPS as much as the actual performance of the company.
JMHO.