Looking into the matter of inside trading i have uncovered the following:
Dr Ziyad Binsalamah is a Thoracic Surgeon (Cardiothoracic Vascular Surgery) that was practicing in Houston Texas at the time. One of Anson's funds is located in Houston area. Hudson bay files a 13G in Tenax Feb 2019. March 2019 Tenax reveals that it has begun phase 2 trial of its drug May 2019 Dr Binsalamah begins investing in Bridgeline Digital August 2019 Tenax provides business update revealing top line data Q1, 2020 April 2020 Tenax provides update that its topline data is due late June 2020 Dr. Binsalamah buys shares May 2020. Sells when the price pumps on topline data release June 2nd. Same day he sells Tenax he buys SINT for which he sells SINT on its price pump June 22nd. July 2020 Dr Binsalamah begins buying Interspace Biosciences for which he closes his position August 2020 about a month later for a 30-40% loss. Dr Binsalamah has not filed further 13Gs since.
My interpretation of the above information suggests that Hudson Bay or any of its family of funds contacted Dr Binsalamah to provide consulting services and possibly keep track of trial progress; trial was not at a Hospital in Texas so its not likely Dr Binsalamah had direct access to data. Being a Cardio surgeon he could befriend or associate with the doctors using the drug at one or more of the 10 hospitals. In exchange, it seems, Dr Binsalamah would be given information to profit from trades. To accomplish this without raising red flags he traded four companies that were all associated with Hudson Bay. First was Bridgeline Digital for which he traded for a year. This company i believe was to establish his trading profile. Then he did two quick trades in Tenax and SINT for large profits. Under this hypothesis this represents the core of his compensation for information/consulting services. His final trade was in Interspace Biosciences where he traded over a month and seemingly took a loss...assuming he wasnt short in another account. Since these 3 of these trades were all short lived it could raise red flags for insider trading. Thus by taking a loss in his Interspace investment, it helps provide cover. I contend all three trades outside of Tenax were meant to help establish Dr Binsalamah as a trader and help cover inside information he may have had from contacting Doctors associated with Tenax trial. As all four funds are associated with Hudson Bay and Ansons family of funds, it looks like an exchange of information was done. I do not see any reason for Dr. Binsalamah to be associated with Sintx.
This post shows how this group of funds work together to short offerings and buy them so to circumvent rule 17 CFR § 242.105a - Short selling in connection with a public offering. That said, they do appear to be violating the rules on trading material non-public information. https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174599544
I go into some of the evidence of this in the February 2023 offering where they drove the price up & naked shorted it down. Ansons family of funds participated in every offering in 2023 up to the recent RS. Anson and the other funds its associated with are known for their short and distort actvity and are under investigation by the DOJ. SEC slapped it with a ticket fine basically that will in no way discourage its shorting and distorting methods. https://investorshub.advfn.com/boards/read_msg.aspx?message_id=174602472
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