Why buy as an insider? Frewil1, I can only speculate. It is free , so take it for what its worth.
AXI has a bit of history putting our private placements and then seeing the investors get really burned.
It is quite possible, in my opinion, the the insider buying may have two motivations with the same objective.
a. Hold the price at .20. Keep the latest group from becoming disgruntled, and if they can spin the DFS, may be able to actually get a little pop up. , and
b. They are trying to protect their positions. When you own a few millions shares a drop of a few cents makes a difference, so spending 20 or 30k to prop it up make sense. Even if the slow the drop.
Once this stock falls below .20 and if the DFS does not show up by Wednesday of next week, we could see a reall drop in the sp, and they might be trying to stop this by buying.
This makes some sense when you look at the bids..Huge bids at .20..No investor in their right mind does that when the ask side is so out of balance..Bid the ask volume at .20 and then lower with the balance. People bidding 50and 100k positions are not naive investors as a rule...even at .20
It does seem like a definite attempt to put a floor on the price.
This is all a guess on my part.. I am simply waiting until Wednesday. Despite RPs post about no control over the DFS, there was a definite date given for it. And it is very important they honor it. There are several other important issues that need addressing, but this is the first one.
Good luck to all who are holding still.