HMBL was not a reporting company. They didn't need to report the RS. Do I think it was prudent? Sharp told everyone about a RS of XDSL on a Friday during the day. A company he was consulting. The RS was 5000 to 1. I owned a ton of that stock. He felt he was warning shareholders so they could get out before Monday's move.
I owned a ton of that stock. In a day I lost $45k because I was out of town on that Friday. I eventually managed to sell what I had (minus 9 odd shares) for another major loss.
If he didn't say anything, the stock would have stopped trading on Monday, there would have been a 3 day wait to sell, and then people might not have dumped it to nothing. So yea, I think the 4 to 1 RS would have been better for stockholders if nobody reported it until after it happened.
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