Who owns less than .005 of the stock post financing.This is my review of the Sedi filings for Ray Sully and Steven Craig Harding as of today. Please forgive me if I have made any errors on adding up the numbers. Please do your own review to confirm the numbers.
Ray Sully’s transactions and ownership: I have focused on transactions in 2015.
2015-05-12 Direct Ownership : 51 - Exercise of options +112,500 262,500
2015-05-12 Direct Ownership : 10 – Disposition in the Public -87,500 175,000
2015-08-07 Direct Ownership : 30 - Acquisition of a whole +297 shares 175,297
Mr. Ray Sully owns approximately 175,297/62,000,000 = 0.002827
I am assuming the current financing closes and there are a further 2,000,000 shares issued.
Please note Ray, has been buying stock, he bought a whole 297 shares through his RSP plan in August. Oh by the way, he also sold 87,500 shares in May. WOW.
This is the review of Sedi Filings for Steve Harding. Please forgive me if I have made any errors on adding the numbers. Please do your own review to confirm the numbers. The report is a little confusing with a few other names, so do your own due diligence but this is a public document. I did not bother with Option allocations, and also warrants.
I thought I would look back a bit earlier on Steven. This is what I found.
2014-12-22 Control or Direction : Perfect Ocean 00 - Opening Balance-Initial SEDI Report
2014-12-22 Control or Direction : +176,250 176,250
This is the revised share total post merger with Donnycreek.
Perfect Ocean 22 - Acquisition or disposition pursuant to a take-over bid, merger or acquisition
2581810 2014-12-19 2014-12-22 Control or Direction : Svetlana Dubik 00 - Opening Balance-Initial SEDI Report
2014-12-19 2014-12-22 Control or Direction : +37,500 37,500
Svetlana Dubik 22 - Acquisition or disposition pursuant to a take-over bid, merger or acquisition
2014-12-22 Direct Ownership : 00 - Opening Balance-Initial SEDI Report
2014-12-22 Direct Ownership : 22 - Acquisition +54,375 54,375
disposition pursuant to a take-over bid, merger or acquisition (this does not seem to add up, but I included the info from the filing)
2015-05-05 Direct Ownership : 51 - Exercise of options +153,750 1.7300 208,125
2015-05-05 Direct Ownership : 10 - disposition in the public market -93,000 115,125
2015-08-07 Direct Ownership : 30 - Acquisition +307 3.1488 115,432
2015-07-31 2015-08-07 Indirect Ownership : Acquisition +68 3.1488 TFSA 30 115,500
Mr. Steven Craig Harding owns 115,500/62,000,000 = 0.001863
I am assuming the current financing closes and there are a further 2,000,000 shares issued.
Please note Steven, has been buying stock, he bought a whole 68 shares through his TFSA plan in July. Oh by the way, he also sold 93,000 shares in May. WOW.
Now, let’s ask the question: do you understand how little the two most senior guys on this Kicking Horse team own. They own 0.00469 of approximately 62,000,000 shares. Unless they are taking some of the current financing, they both jointly own less than a half a percent.
Please call your broker/adviser to recheck SEDI, and make sure that I have not made an error. I am not perfect and could have added it up wrong. But ask your broker/adviser this question: do you think this management team has skin in the game. Check what each one of these guys is making for a salary. How does the pay correlate to the amount of shares they own?
Investors, we are heading into a seriously challenging time. There are several major analysts in the world calling for oil to go to $35 WTI. Make sure you have your monies invested in companies whose management that will be able to see their way through these challenging times. Please note: when companies go out to raise capital, one of the first questions the fund managers ask is: How much does management own and how much are they investing in the round. On the last round it looks like a no show for both Steven and Ray, let me know if they committed to put monies in.
If you believe, this company needs to raise more monies in the near future, you have to ask yourself one question: are these the guys who can get it done.
I did not look at Chad’s filings because he is leaving this SHIP.
In no way, do I mean to say that Ray or Steven are not committed managers of other peoples monies. They could be very good at what they are doing but in these challenging times, do you want management with a large chunk of their net worth in the company, or you decide what the other option is.
Once again, please review SEDI yourself and have your broker/adviser to do the same. If a small management ownership is important to you, ok.
In these challenging times, ask the tough questions on every company you own. Invest safe and do your homework.