RE:RE:RE:RE:RE:Senior Executives SELLING SHARES!!indoubtgetout wrote: Not sure how you get to the numbers of 40 million each? From what I decifer from financial statements and the last information circular and SEDI, they recieved a whack of shares from the RTO in 2017 and put in about $3 million each....signficantly lower than your $40 million number..
Show me how you get your numbers???
I never said they put $40M of their own money in the company. What I said is that they started this company from scratch, putting all their savings into it early on. As such, they have always been large shareholders of the business.
As per the last procy filling found on SEDI, file date December 19, 2018. (page 6)
Principal Shareholders
The following table shows the names of the persons who, as of November 22, 2018, to our knowledge, beneficially own, control or direct, directly or indirectly, voting securities carrying 10% or more of the voting rights attached to any class of our voting securities:
Name of Shareholder Number of Common Shares
Jonathan Ferrari 11,397,565
Neil Cuggy
11,397,565
At the current stock price of $3.50 this equates to $39.9M worth of stock per officer.
Knowing how much they have been paid over the last 5 years, I do not think that selling 4% of their total holdings to take $1.3M each is indicative of anything. I would do the exact same thing in their shoes.
Furthermore, the VAST MAJORITY of their wealth remains inside the company. If they were trying to fleece investors, knowing the performance of the business was about to deteriorate, they would have sold 30-40% at a minimum. The fact that they remain the largest investors in the stock aligns their interests with the interests of shareholders.
Prokofiev