RE:RE:David Elsley Files Early Warning Report for Cardiol This sounds a lot worse than what the purpose of the warning represents.
When an insider etc acquires more than 10% ownership, they are required to submit this regulatory report, that's it!
Elsley hit this number with the Bought Deal that closed earlier this month, for some reason they felt a press release was required for disclosure.
Insiders buying more shares is almost always a good sign on the future of the company. Three other insiders also purchased additional shares so I see this as a very positive development.