Yes, Mike not buying shares is a concern.
But he could have bought a bunch at 5 cents and be ahead no matter what, or if he was the villain that he's portrayed to be, he could have bought at 10 to 20 cents and sold in the 30 plus cent range.
Mike has plenty of incentive to see the pps rise. He'll make millions if it does not just off his options, but CEOs get higher pay for higher market capped companies. Sure the $260k salary is a comfortable living but taxes do take a chunk of that. It would be wrong to think that Mike doesn't want the pps to rise as much as the shareholders.
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