Insider ownershipIn reviewing Sedi.ca, the summary of stock/option ownership by VMD insiders is as follows:
Dobbs, Randolph Edward 36261
Frazier, William Dana 36261
Smokoff, Timothy Lee 36,261
Fitzgerald, Trae Paul 116,983
Kaushal, Nitin 376,453
Zehnder, William Todd 533,372
Moore, Michael 2,389,686
Hoyt, Casey 2,401,583
Also, Gregory Crawford owns 7,310,386 shares of VMD.
This represents 34.1% of the 38,788,526 shares/options of the company. It means there is a float of 25,551,280 shares. (Note: This excludes some old warrants about to expire in early May 2018 at exercise prices that are 2.5-3 times the current market price
Mr. Crawford joined PHM through PHM's purchase of Patient-Aids, Inc. Mr. Crawford began working at Patient-Aids in 1994, becoming a partner 3-years and Patient-Aids' sole owner in 2004. Mr. Crawford is current CEO of PHM. He served as Managing Director of DME at Patient Home Monitoring Corp. from July 20, 2016 to December 2017. The reason Mr. Crawford has so many shares is because In finalizing the post-closing payments for the acquisition of Patient-Aids, PHM and Mr. Crawford agreed to amend the original purchase agreement which required PHM to pay approximately $11.4 million to Mr. Crawford in a combination of cash and shares over two payments in April and October 2016.
Mr. Crawford has given Casey Hoyt and Michael Moore voting proxy for his shares in return for receiving the voting proxy for the PHM shares held by Mr. Hoyt and Mr. Moore. Mr. Crawford is restricted to selling no more than 15% of his shares in any one month. Given his prior desire to hold equity, I cannot imagine he is in a rush to sell out his VMD holdings at the current price.
There are also restrictions on Mr. Hoyt and Mr. Moore selling their shares until mid-July 2018. By then there should be a clear picture of FY 2017 results and Q1 2018 results together with guidance
In all cases, I doubt the insiders are interested in cashing out at current prices. They all suffered significant declines in the value of their holdings and would be anxious to get valuations up. The small public float of 25,551,280 shares will impact institutional buyers and share price volatility.