Is Hans Black going to be exiting the board ?With the announcement of a new board member, will we see one exiting or just an increase ? Could it be in the not to distant future that Dr. Hans Black leaves the Amorfix board of directors, may-be knowing full well what Amorfix has in it's product pipeline. If we look back over the last year, as reported on August 16, 2010. Dr. Hans Black The Chairman of Interinvest also a director of Amorfix has acquired through open market purchases a total of 4,862,550 common shares of Amorfix representing 10% of the issued and outstanding common shares. As DR. Gundel commented " We appreciate this strong endorsement of Amorfix by Interinvest and our Directors who share our vision and confidence in our product pipeline and it's future prospects." From August 2010 to present it appears Interinvest has been upholding this confidence on a monthly basis with as many as eight different buying days in July 2011. !!
A different area Dr. Hans Black may have contributed: If you refer to MD&A for the year ended March 31,2011, under Related Party Transactions. " A company controlled by a director of Amorfix provides Investment Advisory Services to Amorfix. The Company paid $18,620 to a company over which a director has significant influence, for legal and consulting services related to the February 28, 2011 private placement offering."
Hard to say what's going to happen if Dr. Hans Black does exit, probably means he will no longer be an insider and these types of transactions will no longer have to be reported.