RE:No RespectThis was a Nov post but I find the title appropriate.
Lot of posts associated with risks associated with current major projects, which is fine, but what I dislike about MCR (I have been in and out over years for trading profit) is mgmt's approach to options. Of course, options' regulations are a mockery when it comes to unfairness to non-insiders as we saw when MCR repriced $2.35 to $3.35 options to $1.63 in Dec 2016 (its price at the time was closer to $2 but who cares!). I see all 6 insiders exercised the 75,000 $1.63 options expiring Sep '19 in Aug and now they seem to have taken/or will take the remaining $1.63 (and also possibly some $3.15 options) under the loan purchase agreements.
So possibly see them take opportunistic profit in near future. Guess they'll time it to their knowledge of related costs for the current and the following qtr's expenses as the size of such costs is the one risk, stated in their Sep financials, that is 'unknown' versus the potential revs for the same period.
I know I am jealous of insider option grants but they are such risk-free rewards compared to when I bought back in late 2016. Anyway my major point is that they could unload well over 1MM million shares coming from these options depending on the news streams...after all, they had until the middle of next year to exercise a large number of the $1.63 options but are borrowing money to do it in this quarter. Why?