Trend: That is incorrect. Diaz negotiated a substantially below market purchase of restricted (unregistered) shares. He did not purchase stock on the open market.
He purchased stock at 0.33 on a day that it closed at 0.60 and traded as high as 0.62. These shares must be registered before he can sell them.
From the SEC filings:
On August 2, 2002, the Company issued 360,000 restricted shares of Common Stock to a director for gross proceeds of $120,000. The restricted shares of Common Stock may only be disposed of pursuant to an affective registration statement.
Additionally, my statement was regarding management, not the BOD.
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