Post by
amac120 on Jul 23, 2006 10:43pm
Insiders
Friends...I have bought and sold this stock in the past - won and lost. This weekend I did some investigation in to the company as I was curious about the .30 cent to $3.00 rise in a short period of time, earlier in the year. With no major announcements, "This looks like the classic pump-n-dump", said I to myself. I went to SEDI (and you can all feel free to do this and verify my results)and discovered the following:
during the run-up from Jan 06 to Jun 06 ALL and I mean AALLLL the insiders of this company (management) dumped AAALLL their shares.
There are none held by insiders anymore (I think LARSON has 30 thousand left)
Not that I blame them for selling off into a price rise (orchestrated or not) but buying this stock now, when the insiders have none left is a bad move, I feel.
Thomas LARSON sold appr 2.6 million shares
Miles NAGAMATSU 675 thousand
Francis SAUVE 1 million
Paul ANKCORN 300 thousand
Duane PARNHAM 400 thousand
Tony SAGE 6.5 million
balance shows zero now for management (except the 30k owned by LARSON). How much interest do you think they have in the company now - probably the same as their shares ZIP...or maybe they were aware of the drill results a long time ago and bailed. Well done for them - bad for the new guys like us buying in to a sinking ship.
Just some thoughts and observations.
DCM