Thank You Manshoon for the informative post.
Jazz, don't feel too disheartened.
This sale is not anything unprecedented.
Kim T. receives most if not all of his salary in the form of KBLB stock. (remember that the company is not generating any cash yet)
It has been his common practice for at least a couple of years now to periodically sell some stock for cash to live on.
Manshoon and I tried, a while back, to find form 4 filings for the stock sold by Kim T. but could not.
What we did find was these form 144s which announce an intention to sell stock but such intention is not irrevocable.
If I am interpreting Manshoons post correctly, I believe that the latter part of it is a report of an actual sale.
He is to be commended for this find, and I eagerly await more details on where and how he found it.
~3.6 million shares sounds like a lot, but realize that the proceeds from this were just $218K, and this amount of stock is only about 1% of Kim T.'s holdings.
This is not a picture of a CEO cashing out of his company, but rather a picture of a man freeing up some money to pay the mortgage, utility bills etc. and perhaps to buy a new car for his wife or a nice piece of jewelry.
I do not offhand remember the exact timing or amounts of past sales like this, but you can find some of that info in past posts to this board from Manshoon.
I do not think that this is far out of line with previous sales in terms of $/year.
Mike L.
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