Longtime follower, first-time poster.
Shortnlongs, what makes you say this? I've seen you down on this stock when it could be had for a dime. I've always thought you made some fair points, though perhaps a bit overly negative. Are you looking at technicals or fundamentals?
Speaking of fundamentals, I've been only paying some attention to these guys since 2016's 10-K. It was obvious for the last 2-3 years they needed to focus on revenue to justify playing here, and they've been basically flat since 2015, even though they were hockey-sticking to glory initially. I did notice Trent's sale of 750,000 shares (!) in January, and couldn't find anything about that in the Edgar filings, other than the announcement of some kind of stock options for employees this summer. Evidently, 9,000,000 RSU's (i.e. shares) went to Trent under this stock plan at that point? Why did Trent get 9,000,000 shares for stepping down as CEO? Is his position in California for real? Or was that a "too much turnover; let's save face, here's your severance. As far as I can tell, he's entitled to them, employed or not and performing or not, so long as he doesn't speak ill of the Company (in violation of some non-disparagement and confidentiality agreement). His replacement then gets awards for performance at least. Looks like he must have hit his Q4 performance benchmark, since that Form 4 got filed in Feb for 1mllion shares awarded? If so, I guess we're looking at a high-revenue Q4, though I wonder what the costs to hit that revenue number will have been. Does it include deferred revenue like the Sante Veritas deal they announced recently?
And Trent's Form 4 says he holds no shares at this point. Didn't he have some holdings at some point? I recall reading something about a performance-based transfer of shares from other insiders after he raised some money last year? When did he get rid of those? Did I miss the form 4 or did that never happen and the 9M shares was the board's way of making it up? And, more to the point, regardless of his holdings, how did he manage to sell in late January (at the peak share price since IPO, no less) without running afoul of insider trading laws (or the Company's Ethics Policy---which has evidently since been replaced).
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