He claims to have re-invested in the company. Do you believe him at his word? Just like he claimed there were 17 new locations to be opened by 2017?
If he really did re-invest into the company, where are the filings to verify this? This would be material as it would affect the ongoing operations of the company.
I'm calling BS. I think he saw an opportunity to sell his shares for a nice profit, and did so -- selling any more than 2% would trigger alarms, and would sink the share price.