Here's what I sent him:
Tim,
Thanks for talking with me a few minutes ago. As you suggested, I am sending you an email.
As I told you.... I now own almost 700,000 shares of EXBX and I am not the only investor who is VERY concerned to see a second insider selling over 2 MILLION shares in just over a week's time. I don't care if he still has an additional 15 million shares... I also understand that these are privately held shares AND that the company has no control over an individual's actions. What I DO care about is what this says to present and potential investors. It says that either this guy AND Scott are financial IDIOTS.... or that they have very little confidence in where the SP will be going. IF this company's products are as revolutionary as they are claimed to be... The SP SHOULD go waaaay up in very little time. WHY wouldn't either of these guys wait just a short couple of weeks to get a whole lot money for their shares than they recently got for them? The ONLY thing that makes sense to me is... that either 10 They don't think it will be trading any higher... if not lower than it is now.. or 2) there is some other incentive for them to sell now.
This is VERY disturbing.
It has been mentioned that some insiders MIGHT be financing the company's operations for the promise of an excellent stock bonus/option as soon as the company can make that happen. Is there any truth to this rumor?
If this question is not answered to my satisfaction in the near future, I will be selling a great portion of my holdings in the company. Granted... that's not a heck of a lot compared with what the insiders are dumping, but.... after I sell (if I do) I will make known to others.... what and why I have done. They can make up their own minds about what they want to do with their shares.
Thanks in advance for your interest in my concerns. I hope that you can get some satisfactory answers about all of this... that I and other shareholders can understand and accept.
Yours,
Frank Smith
