I wasn't disappointed at all, and would have done the same thing under the circumstances.
In fact, I did just exactly that-sold around 10% of my totals holdings(trading shares) in the .18 to .20 since I had purchased them at around .08.
If people are worried or paranoid because he choose to take a profit, well hey thats an issue they have to deal with.
Imo what he did ultimately will have no effect on the share price-either the company will prove itself or it won't-its that simple.
Conversely, selling the shares as he did will allow HIM to do whatever he chooses to do with the proceeds in the short run in his own personal life(he has one I assume just like you and I).