Insider SellingIf you recall I had a problem with Augen having the option to give up to 5% of the outstanding stock as options to their key people. I thought this was excessive and would prefer key people putting their own money on the table even if they received a discount price on the shares with some sell restrictions.
When I see Ronn Mann (in charge of dealer sales) exercising and selling 225,000 Augen shares in June, my concern is if the employees and senior people don't believe in the stock price why should I. Well, I found out that Mr Mann is no longer with Augen so my wish on not having employees / directors on that would liquidate their holdings on in coming in play, no matter if he left or was asked to leave.
So at least one insider seller is gone. Ronn's replacement is Michael Fowler who has been buying shares of Augen at .60 cents at late June. Although short term this hasn't worked for Michael, he has earned my respect to put his own money on the table. For his leap of faith, this type of employee is the type of employee I have no problem in having him earn restricted stock options on Augen.
Look forward to meeting you Michael!