RE:RE:RE:Calling the regulators about curious insider selling action
Please do NOT put words in my mouth. I am simply recommending that shareholders call the OSC and ask if this type of "arrangement" is legal.
Why are you objecting that shareholders call the OSC to inquire??? Is that like saying don't call the cops when you see something happening you feel is not quite right? THere is no cost in doing so and the more people who are concerned call (for free) the more regulators pay attention. They might simply come back and say "no problem" but considering the insder sale happened during a blackout period and with reason code "other", that might raise a flag with them as well? Maybe? No?
Regulators are there to protect the investment community. You might be satisfied with the explanation provided by the company but that doesn't mean that everyone else buys into it.
Best to get the head authorities looking into this because it does not sit right with me. CXR is within the OSC jurisdiction being listed on the TSX and with head office in Ontario.
There's too much room for abuse given how this is being played out IMHO. And you add the reported Ontario numbered companies moving from Ontario to the Cayman Islands, if that is true, that's highly suspect in my views. I do not know a single person that uses tax evasion. Maybe I'm too average. I pay a boatload of taxes each year and that's how the system works. I play by the rules and those who don't, do it at my expense. Simple. If nobody plays by the rules, you have an even and fair playing field. But there are rules on the markets and they have to be followed or the system crumbles.
If some disregard the rules, they do so at the expense of those who do and that's simply not ok in my book.
You have to be a fool not to be asking questions here. This is not "normal investing" people. In over a decade of investment experience, I have never, ever seen this. And when I look at previous companies managed by some of these insiders, I get worried that we are seeing an unchecked reoccuring pattern. And do you know who wins? Those who don't play by the rules it seems.
Truly a Game of Masters.
And frankly, it's turning me from a staunch "long investor only" into seriously contemplating joining the short sellers. Specifically short selling companies that might not be playing by the rules and who have the potential of complete annilation.
With US hedge funds not having to declare short positions but having to disclose long positions, it really appears, unfortunately, that investing these days need to include short selling. It's not by choice, it's by necessity. My big reservations is "can little guys short sell without getting eaten alive by the Masters and market professionals?"
And with the pharma storm so strong, and this vessel so weak and loaded with debt, ships that take one a lot of water, sink very, very quickly. And who is standing by to pick up the goods (assets) without the weight of the passengers (shareholders)? Private Equity!
How close is Private Equity to this ship? Very, very close. Too close for comfort if you ask me.
If anyone can help me increasing my comfort level with the risk of short selling, please let me know. I might simply be too small to enter this Game of Masters.