ragtimecowboy....Insider information is a tight line to walk.. Most professional management people stay away from that line completely to avoid even a hint of impropriety. I suggest you do some checking on the subject because you didn't learn much in your years of experience. I too spend over 30 years in the corporate world, the last 15 years before retirement running my own private biz... Pink Sheet management people step over the line many times because the regulatory people can't police everyone and don't really give a chit about the little fish....
The info below should help get you started...ther's plenty more out there for you to check....
"Material information, about certain aspects of a company, that has not yet been made public but that will have at least a small impact on the company's share price once released. It is illegal for holders of material insider information to use the information - however it was received - to their advantage in trading stock, or to provide the information to family members or friends so they can use it to make trades.
Getting information that a company's expected earnings per share for a given quarter could be markedly poorer than expected, or getting information about developments in an ongoing lawsuit involving a company are both examples of material insider information."
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