Isotechnika Pharma Inc IPHAF

RE: Insider trading?

[labumba]

Here is the excerpt from SEC re: rule of insider trading :

 

The rule sets forth as affirmative defenses situations in which a person can show that the inside information was not a factor in the decision to trade. To establish the defense, the trader must demonstrate the following:

• Before becoming aware of the information the trader entered into a binding contract, gave instructions to another person or adopted a written plan providing for the purchase or sale of the securities in good faith and not in an attempt to evade the new rules;
• The contract, instructions or plan either: (a) expressly specifies the amount, price and date; (b) provides a written formula for determining amounts, prices and dates; or (c) does not permit the trader to exercise subsequent influence over how, when and whether to trade so long as the person with such influence is not aware of material nonpublic information when making such decisions; and
• The purchase or sale that occurred was pursuant to the prior contract, instructions or plan (i.e., no alteration of or deviation from the contract, instructions or plan and no engagement in a corresponding or hedging transaction).

As long as the purchase or sale complies with these guidelines, the trade may occur even if the trader later becomes aware of material nonpublic information. In addition, if the trading party is an entity, the entity will not be liable if it can demonstrate that the person making the investment decision on the entity.s behalf was not aware of
the information and the entity had implemented reasonable policies and procedures to prevent insider trading.

------------------------------------------------------------------

the question is : is a deal in work ?