This may be what happened ..... In my personal opinion:
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There were 1,090,000 13-cents warrants expiring on Feb 24, 2012. The warrant holder(s) trading through ITG were eager to have them exercised to give the company some $141K during the strong run up in the broader market. Unfortunately the broader market ran out of steam as the European debt crisis emerged as investors worried that would be a drag on the global economic recovery. Therefore MTB failed to break above the 13 cents strike price. Such crisis resulted in sell off across the board till today. More shares the insiders accumulate at lower prices and more shares the potential bidder accumulates could mean higher takeover bidding price for the remaining shareholders.
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March 2, 2010 News Release:
https://www.mountainboyminerals.ca/s/NewsReleases.asp?ReportID=465098&_Type=News-Releases&_Title=Mountain-Boy-Minerals-Ltd.-Announces-Closing-of-Non-Brokered-Private-Placem...
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MTB.V daily chart
https://stockcharts.com/h-sc/ui?s=MTB.V&p=D&yr=0&mn=9&dy=0&id=p68493900941
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DJIA daily chart
https://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=0&mn=9&dy=0&id=p76609773376
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A famous Chinese proverb states that: "In any euphoria lurks complacency.....In every crisis emerge
opportunites"
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When in doubt, stay out. One man's trash is another man's treasure.