Yes, unfortunately that is a legitimate question. Several times on the last conference call Steve King insinuated or outright said that the stock was well undervalued and that they were surprised at it's terrible performance despite the presence of good if not great news. Fine. I'll buy that for a while. But when the stock completely tanks from $1.20 to now 66 cents and not a single insider has stepped up to buy, what does that say? It says either we have a bunch of insiders who are broke (highly doubful with the salaries Peregrine pays it's BOD and management) or the insiders don't think it is cheap enough yet. Scary. It just doesn't add up. Why would anyone buy this stock after all this disappointment if even the people who publicly say it is cheap aren't buying? Peregrine management if they believe in the stuff they are saying publicly and privately should be buying stock. End of story. No excuses.
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