Insider BuyingWhat bigger endorsement could there be then to have the chariman of the board buys 75,400 shares at $1.30 =to about $98,000.
Keep in mind that being in their positions it is not that difficult to give themselves free options. For example 350,000 options were granted at .98 with no vesting period (can be cashed the next day if they wanted which I totally disagree with but that is another story and I won't complain too loud as the boys do deserve a nice bonus for their success to date.)
So why put almost 100K at the table. Well I can tell you what I do when I hold a large position of a stock that is cheaper than I know it will be worth in short period of time. I buy the shares to prop the shares up (part out of short-term monetary gains and part out of being choked that people would try to sell the stock down)
So you can pump or you can dump but I usually buy or at least hold if the insiders are buying.
Maple Leaf Reforestation Inc. (MPE) |
As of October 25th, 2007 |
| Filing Date |
Transaction Date |
Insider Name |
Ownership Type |
Securities |
Nature of transaction |
# or value acquired or disposed of |
Unit Price |
| Oct 25/07 |
Oct 24/07 |
Hu, Michael Hua |
Indirect Ownership |
Common Shares |
10 - Acquisition in the public market |
75,400 |
$1.300 |
| Oct 16/07 |
Oct 11/07 |
Gautreau, Michael John |
Direct Ownership |
Common Shares |
10 - Disposition in the public market |
-2,500 |
$1.000 |
| Oct 05/07 |
Oct 02/07 |
Lai, Raymond S.C. |
Direct Ownership |
Options |
50 - Grant of options |
150,000 |
|
| Oct 05/07 |
Oct 02/07 |
Hu, Michael Hua |
Direct Ownership |
Options |
50 - Grant of options |
200,000 |
|