"You think he bought a small amount of stock to make it look better when he sells a larger chunk? Interesting idea."
I do think that, although I think that I expressed it a little differently. I think he may have bought those shares in anticipation of the supplementary prospectus, filed today, which allows him to sell some of the shares he received as interest...per our previous discussion. Indeed the dollar value of the shares made available for sale is far more material than the $150,000 he recently invested.
BTW, it wouldn't surprise me to see him make another small investment in the near future. Perception can be everything.
"Of course he is free to buy and sell as he sees fit. What makes you think he will be selling stock (I assume you mean soon)? He hasn't sold any yet, and keeps adding so far, right?"
The SOLE purpose of today's filing is to allow the 5 shareholders listed to sell the listed quantities of shares at will. There was no other purpose for the filing. That's what makes me think that he will be selling stock soon. What "soon" means remains to be seen.
In fact, given that the company is in a comfortable cash position, the filing of the S-3 itself may have been done to facilitate these sales. You may recall that the exact reason for the S-3 filing wasn't clear at the time of the filing. Seymour himself has indicated the the $42M in cash on hand gives him comfort. Boniuk has been a VERY significant contributor to the company coffers and I suspect that they want to be sure that he stays happy.
ps. You may recall that the 2nd interest payments, which I believe were due in February, were reported and paid in November. I think they require a 6 month holding period prior to sale. If and when they file a supplementary prospectus for those shares it will be interesting to see when they start that 6 month clock. It should be as of when they were actually issued, not when they should have been issued.
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