Sell off Globe says Patient Home principals had tax issues
Ticker Symbol: C:PHM
Globe says Patient Home principals had tax issues
Patient Home Monitoring Corp (C:PHM)
Shares Issued 290,766,749
Last Close 8/5/2015 $0.97
Thursday August 06 2015 - In the News
The Globe and Mail reports in its Thursday edition that a week after a violent sell-off that confused and angered investors, Patient Home Monitoring has released details on why two former high-ranking members of its management liquidated a huge portion of their holdings with little warning. The Globe's Niall McGee writes that Michael Dalsin and Roger Greene "transferred shares to the Healthcare Special Opportunities fund" and "sold shares to satisfy a tax liability" the company said in a press release on Wednesday. Mr. Dalsin and Mr. Greene also "elected to retain shares in their personal names." Last week, jittery investors dumped millions of shares when an insider trading report surfaced showing that Mr. Greene and Mr. Dalsin had liquidated their entire holdings of 13.4 million shares and handed over management of the firm to a new group. Adding to the chaos, investors were under the impression that Mr. Dalsin and Mr. Greene had actually sold 26.8 million shares. However, according to Mackie Research Capital's Pat McCarthy, who is the company's underwriter, Mr. Dalsin and Mr. Greene mistakenly "double-filed" the stock sale with the System for Electronic Disclosure by Insiders.
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