Personally, I do not believe that Pope is selling any stock. It would be senseless given that they know the company will uplist. They work with Crocker, and they know that it will get done. Once some institutional interest is attracted, and the stock gets to $20+, then they will sell some, likely via a secondary offering unless the volume really starts flying.
Remember, they bought 300,000 worth of shares in the beginning of the year. If they just wanted a little money out of this, they'd stick with the interest. They are assisting JGBO with cleaning up its liabilities, so that the true value of the company is no longer lost in the complicated financing. This quarter demonstrates this. Major shut down, to no fault of theirs, and they still earn nearly 50 cents per share.
Most definitely, the communication could have been better on this, but what we are watching is a company in transition. How can you beat up a company that is still earning solid money, when it has all that cash, and you are paying a few bucks on the dollar for good cash flow and earnings.
Some of you guys appear to know a lot more than me about this company, but this is my instinctive sense of the situation.
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